Ferd sells 6.5 million shares in Scatec Solar

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Ferd AS ("Ferd") today sold 6.5 million shares in Scatec Solar ASA ("Scatec Solar"), a leading integrated independent solar power producer. During Ferd's ownership period, Scatec and partners have invested more than 20 billion NOK in renewable projects in emerging markets in Eastern Europe, Africa, Middle East, Asia and South-America, and more than tripled MW in operation, under construction and backlog.

Bilde: Scatec Solar

Ferd has during the second half of 2019 reduced its ownership from 13,411,182 shares and will after the latest transaction own 724,746 shares (0,5% of total shares) in Scatec Solar.

- We are proud to have been a large shareholder and supported Scatec Solar during a period of rapid growth and industrial development. It has been a fantastic investment in an impressive company with a professional management. After a great journey, we have decided to realise most of our profit in this investment. Ferd will continue to actively pursue investments in other listed and large non-listed companies”, said Morten Borge CEO of Ferd AS.

Scatec Solar was founded in 2007 and listed on Oslo Stock Exchange in October 2014. Ferd acquired its first shares in Scatec Solar in 2015 and has since 2016 been one of the company’s shareholders. During Ferd’s holding period, Scatec Solar has more than tripled in size and advanced into a top 10 global independent solar PV developer with a broad portfolio across emerging markets.

Since Ferd’s first investment in Scatec Solar in 2015, the company has developed and built more than 1.9 gigawatt (GW) environmentally friendly energy capacity to the benefit of millions of people with an uncovered energy demand.

- Ferd still has a positive fundamental view on the market for solar energy and other renewable energy sources. We are actively looking for new opportunities in this segment. Our divestment in Scatec Solar follows a period where the company's positive development and solid financial performance has generated attractive returns for the company's shareholders, says Kristian Eikre, co-head of Ferd Capital.

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