21/12-2018 08:14:51: (SSO) Scatec Solar.s first solar plant in Malaysia in commercial operation
Oslo, 21 December 2018: Scatec Solar and partners. have grid connected and reached commercial operation (COD) for the 65 MW Gurun solar power plant in Malaysia. The Gurun plant is the first of three 65 MW solar plants under completion by Scatec Solar in Malaysia.
.Completing our first solar plant in South East Asia together with our partners marks another important milestone for us. We are now realising one of the largest solar energy portfolios in the region with a total of 197 MW and we continue to see several interesting opportunities in the South East Asian market., says Raymond Carlsen, CEO of Scatec Solar.
The plant, located in the north-west of Peninsular Malaysia is expected to provide about 94,000 MWh of electricity per year, providing energy for more than 31,000 households. The clean energy produced by the Gurun plant will contribute to avoid about 70,000 tons of carbon emissions per year.
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).
Scatec Solar has during 2018 almost doubled its production from 322 MW to 585 MW and now has a total of 1.4 GW in operation and under construction.
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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 1.4 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.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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