Scatec Solar Experiences Limited Impact on Operating Solar Plants From the COVID-19 Outbreak

PVTIME - Scatec Solar is closely monitoring developments and is following
the respective national authorities advice and recommendations regarding the
coronavirus disease (COVID-19). The Company is taking precautionary measures at
all locations to limit the spread of the virus, keep people safe, and ensure
continued stable operations of our power plants.

The Company has to date not experienced any
impact of COVID-19 on operating assets or on delivery of power to our customers
and consider the risk to be low. First quarter 2020 production is expected in
line with guidance earlier provided.

Scatec Solar’s projects under construction are
close to completion. Travel constraints and local regulations have started to
impact construction, commissioning and testing of some of the new solar plants.
It is, however, too early to predict what effects this will have on completion

All solar plants require few operators and are
remotely monitored and supported by the Company’s global Control &
Monitoring Centre in Cape Town, South Africa. The Company has robust
contingency plans in place to mitigate any potential operational issues.

“As electricity production is a necessity in
both normal and extraordinary times, we as a company is shielded from some of
the negative effects many other businesses are facing. However, we all have a
joint responsibility to help prevent the spread of COVID-19, to protect the
health of our employees, their families and society at large. At the same time,
we are implementing all necessary measures to ensure continued delivery of much
needed power to our customers” says Raymond Carlsen, CEO of Scatec Solar.

Power supply is generally defined as a
critical infrastructure in most countries where Scatec Solar operates and,
as such, production and maintenance continues as normal. The Company is selling
all production from the global portfolio of power plants to state owned
utilities, normally supported by government guarantees, under long term fixed
price contracts, with USD, MYR and ZAR being the predominant currencies where
long term contracted cash flows amounts to more than NOK 60 billion over the
next 20 years.