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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 dates.
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.
For further information, please contact:
Mikkel Tørud, CFO, tel: +47 976 99 144, ir@scatecsolar.com
(https://www.globenewswire.com/Tracker?data=_ktw5MrbO4W9IlNqiM-dhN-
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Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364,
ingrid.aarsnes@scatecsolar.com (https://www.globenewswire.com/Tracker?data=3wM9-
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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 1.4 GW. The
company has a total of 1.9 GW in operation and under construction on four
continents.
With an established global presence and a significant project pipeline, the
company is targeting a capacity of 4.5 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
(https://www.globenewswire.com/Tracker?data=bb2arfC_HfvVVZeUV1brjY23iMdrYtVRF0Zn
LPgPTPUoOU-AX9hlppwLVfkEzZTPdk8hpiBO-2EoGXRhZka81Y478xkA1IjHnm2CC5P9g6Q=).
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
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