Oslo, 21 December 2018: Scatec Solar and Equinor have started construction of
the Guanizuil IIA solar plant located in the Province of San Juan in the
northwest of Argentina utilising the agreed Equinor bridge loan facility. Late
November 2018, the partners signed the 20-year power purchase agreement (PPA)
for delivery of electricity from the 117 MW solar power plant with CAMMESA, the
Argentinian Wholesale Power Market Administrator. This is in line with the
project announcement made 19 June 2018.
"We are pleased to have reached these significant milestones for our first
project in Argentina. The project is ramping up activities according to plans
with expected commercial operation by year-end 2019", says Raymond Carlsen CEO
of Scatec Solar.
Total capital expenditure to realise the plant is estimated at USD 103 million
and the plant will be owned 50% by Scatec Solar and 50% by Equinor. The power
plant is expected to produce about 308,000 MWh of electricity annually providing
electricity to 80,000 households.
Scatec Solar will be project lead in a jointly owned construction company while
Equinor will provide a construction bridge loan covering 60% of the capex
required for the project. The project company will source all major components
to the project directly. The partners have started a process to secure suitable
long-term project financing to the project.
With the Guanizuil IIA plant in construction, Scatec Solar has a total of 877 MW
under construction and 584 MW in operation.
For further information, please contact:
Mikkel Tørud, CFO tel: +47 976 99 144
mikkel.torud@scatecsolar.com
(https://www.globenewswire.com/Tracker?data=E_Jt2jG5nVQdnTfO8eYXDzG-
dVczOhT9CqiJ9gza7CRfjTE1WKg5ja5i0DP5A0bdRUw_14eEXiK1F7nuyrbeIuYT91C1tArCvCA23Z0t
3A_TChrQmYIXop_Nwa69HqOX)
Ingrid Aarsnes, Communication & IR tel: +47 950 38 364
ingrid.aarsnes@scatecsolar.com
(https://www.globenewswire.com/Tracker?data=t2U70ym1HU-
iaBjnlc30zQS1OdnPpkVIUTXbM-9Pv41rq6ZHEf1vWzhl61534EzVOSP3hoNmYSekVPNlNDx63E4-
_K6JIFIdJvB_Y0ZVonoftxRdCq2Kyf8EI79WLjaj)
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering
affordable, rapidly deployable and sustainable clean energy worldwide. A long-
term player, Scatec Solar develops, builds, owns, operates and maintains solar
power plants and has an installation track record of more than 1 GW. The company
has a total of 1.5 GW in operation and under construction in Argentina, Brazil,
the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South
Africa and Ukraine.
With an established global presence and a significant project pipeline, the
company is targeting a capacity of 3.5 GW in operation and under construction by
end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the
Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit
www.scatecsolar.com (http://www.scatecsolar.com/).
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act