Scatec Solar Establishes Subsidiary in the US, Signs a 500 kW of Solar Power Purchase Agreement in Ca

OSLO, June 8 /PRNewswire/ — Scatec Solar, a global turn-key supplier of
solar PV (photo voltaic) solutions, has established a subsidiary in the US
with the objective to become a major provider of commercial PV power plants
in North America. Scatec Solar announced that it has signed a power purchase
agreement with a large winery in Sonoma California which has agreed to buy
all the electricity produced by 500 kW PV rooftop system.

    - As the US is rapidly emerging as the world's largest solar PV market,
      it has been a priority for Scatec Solar to establish in North America,
      Mr. Ravi Khanna, President and CEO of Scatec Solar, said. We are in the
      process of building a strong US team, with very strong market knowledge
      and executional capabilities. With our ability to leverage on our
      substantial European PV experience, we see ourselves very well
      positioned to take substantial market share as the US solar markets
      takes-off, Mr. Khanna said.

    - The new emphasis on renewable energy and oil independency in the US
      will be driving demand for solar energy solutions. And as the PV
      technology approaches grid parity in many markets, and grants schemes
      and tax incentives take effect, the demand will grow even stronger, Mr.
      Khanna states.

Scatec Solar North America will be located in Mountain View, Ca, however
the company’s objective is to build projects in multiple states. It is also
working very closely with different state governments to assist in quick
roll-out and implementation of solar projects.

About Scatec Solar

Scatec Solar is a global turn-key supplier of solar PV solutions, with
headquarters in Oslo, Norway. It was established in 2007 by Dr. Alf Bjorseth,
the founder of, among several other renewable energy initiatives, Renewable
Energy Corporation, one of the world’s largest integrated solar energy
enterprises.

In addition to having developed more than 25 MW of grid-connected solar
parks in Europe, Scatec Solar is engaging in rural electrification in
emerging markets, emphasized by the inauguration in January of two Community
Solar Power Plants (CSPPs) in two villages in Uttar Pradesh, India, providing
renewable electricity to a total of 150 households as well as to local
micro-industry.

    For further reference

http://www.scatecsolar.com

    Contact
    Sven Rost, VP Communications, tel. +47-932-53-196.

SOURCE Scatec Solar AS