Scatec Solar signs strategic collaboration agreement for 485 MW in Vietnam

Oslo, 24 May 2019: Scatec Solar has signed a strategic collaboration agreement with Vietnamese partner MT Energy (MTE) for 485 MW of solar PV

Scatec Solar has partnered with MT Energy, a Vietnamese energy company, to develop, finance, construct and operate large-scale solar projects in Vietnam. The strategic collaboration agreement covers three projects located in Binh Phuoc, Quang Tri, and Nghe An provinces. The projects total 485 MW and are targeted to be realised under a new feed-in tariff regime that is expected to be launched later this year.

The agreement will be presented to the Vietnamese Prime Minister, Norway’s Minister of Trade and Industry and other high-level officials during a Vietnam-Norway business forum organised as part of the Vietnamese Prime Minister’s official visit to Norway.

"With this partnership we take the first step in positioning Scatec Solar for the growing solar market in Vietnam. As an affordable, fast and reliable source of energy, we believe solar energy has tremendous potential in Vietnam”, says Raymond Carlsen, CEO of Scatec Solar.

Scatec Solar is envisioned to provide the project’s equity funding. In addition, the company will be the turn-key EPC provider and will be providing Operation & Maintenance as well as Asset Management services to the projects.

For further information, please contact:

Mikkel Tørud, CFO                  tel: +47 976 99 144           mikkel.torud@scatecsolar.com 

Ingrid Aarsnes, Communication & IR  tel: +47 950 38 364   ingrid.aarsnes@scatecsolar.com

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 1.7 GW in operation and under construction in 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.