Scatec Solar - our positioning for the future. IntPow «Solar Day 2015» Terje Osmundsen, Senior Vice President, Business Development Scatec Solar ASA

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1 Scatec Solar - our positioning for the future IntPow «Solar Day 2015» Terje Osmundsen, Senior Vice President, Business Development Scatec Solar ASA

2 An Independent Solar Power Producer Solid track record Project track record of close to 400 MW, retained ownership to 219 MW Financing secured for additional 214 MW to be realized in 2015 Focus on utility scale solar plants Early mover in selected emerging markets Integrated across the downstream value chain Generating solid margins through project development and construction Retaining ownership to assets yielding predictable long-term cash flows Strong partnerships in project development, financing and equity investments Strong growth ambitions Aim to realize gross 750 MW of solar power plants by the end of 2016 Key facts Key facts Established: 2001 Headquarter: Oslo Established: 2001 Main Headquarter: shareholders: Scatec* Oslo 62.5 %, Itochu 37.5 % Employees: 88 Main shareholders: Scatec 29% Power plants (ownership) Itochu 22% Others 49% Employees: ~ 100 Power plants (ownership) Czech Republic (100%): 20 MW Key financial Kalkbult, highlights RSA (39%): 75 MW Secured Linde, revenue RSA backlog (39%): of more than NOK 40 MW 15bn Dreunberg, RSA (39%): 75 MW ASYV, Rwanda (57%) 9 MW Copyright: Scatec Solar ASA info@scatecsolar.com

3 The Scatec Solar business process and value chain Scatec Solar PV equipment manufacturing Development & Construction Operations & Maintenance Power Production Project development Financing Construction Operations IPP Chemical processing & assembly Rapid technology development Cost reductions Site development System design Business case Permitting Grid connection PPA negotiation / tender / FiT secured Detailed design & engineering Component tendering Debt / Equity structuring Due Diligence Project management Supplier and construction monitoring Quality assurance Funding and cash flow management Maximize performance and availability Maintenance and repair Power Production Asset management Financial and operational optimization Parts of the construction phase is outsourced to EPC sub-contractors Copyright: Scatec Solar ASA info@scatecsolar.com Page 3

4 Operational highlights Copyright: Scatec Solar ASA 4

5 Partnership agreements Our positioning

6 Key success factors in emerging markets Scatec Solar is leveraging multi-functional teams and strong partnerships Financial Debt and equity structuring Working capital management Local/regional power market insights Solar impact on the power markets Grid interconnection Government relations Operational Plant optimisation Maintenance Commercial/legal Power Purchase agreements Contract/SPV structuring Tax optimisation Technical Engineering and design Component technology Construction management Component sourcing Cost and progress management Copyright: Scatec Solar ASA Page 6

7 Towards 24/7 solar power: The roadmap Dispatchable Thermal power Batteries Production profile PV Hydro dams copyright: Scatec Solar Solutions GmbH

8 PV: Med kapitalkostnader som i Tyskland, ville prisen på PV strøm i fattige land bli halvert. Cost of capital as share of total investment Når vektet gjennomsnittlig kapitalkostnad er over 9%, så utgjør kapitalkostnad mer enn halvparten av strømprisen. Technology Roadmap Solar Photovoltaic Energy, IEA, 2014

9 Forslag 1: Norge som garantistiller for investeringer i fornybar energi i sør. Dagens situasjon Foreslått tiltak Utestående garantiansvar i GIEK Garantiinsituttet for Eksporkreditt med pant i skip og oljeinstallasjoner på 110 milliarder NOK (NFD i SB 2015: Den sterke konsentrasjonen om bransje og land gir stor risiko for «betydelig tap og underskudd for GIEK i perioder») GIEKs eksportgarantiordning utvides til å gjelde investeringer i fornybar kraftproduksjon i u-land Garantien utstedes til långivende bank med sikkerhet i PPA-avtalen Kostnad: Maks 1 % av kontraktsverdi pr.år Eventuelle tap dekkes over utviklingsbudsjettet

10 Hva blir gevinsten? Investering Resultater? 50 Mrd i PPA garantier PV U-land 100 Mrd i investeringer i PV 6-8 GW ny solkraft (ca 0,5 % av behovet i IEAs 2 grader scenario) 10-15TWh/y 8-12 mill tonn CO2/år