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15 July 2019: Scatec Solar and partners have grid connected its third solar power plant in Malaysia, the 66 MW (DC) Merchang plant. The company now has a total of 197 MW in operation in the country.
'We are pleased to have reached another important milestone together with our partners in Malaysia. This also marks the completion of Scatec Solar's first large scale solar project in South East Asia, a market where we are working on several interesting opportunities', says Raymond Carlsen, CEO of Scatec Solar.
The Merchang plant is expected to provide about 94,000 MWh of electricity per year and the plant started to generate revenues 31 May 2019. The clean energy produced by the plant will contribute to avoid about 70,000 tonnes of carbon emissions per year and provide more than 31,000 households with electricity.
In December 2016, Scatec Solar entered the Malaysian large-scale solar energy market by joining forces with a local ITRAMAS-led consortium that had signed three 21-year Power Purchase Agreements (PPAs) with the country's largest electricity utility, Tenaga Nasional Berhad (TNB). The partnership covers realisation of three solar plants totaling 197 MW with a total investment of about MYR 1,235 million (USD 293 million).
With grid connection of this power plant, Scatec Solar currently has plants with a total capacity of 911 MW in operation and another 993 MW under construction.
For further information, please contact:
Mikkel Tørud, CFO
tel: +47 976 99 144
Ingrid Aarsnes, Communication & IR
tel: +47 950 38 364
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 1.9 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, visitwww.scatecsolar.com .
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act