Scatec Inks Deal for Egypt’s First 1 GW Solar and 100 MW Battery Storage Project

Scatec ASA has secured a 25-year power purchase agreement (PPA) in USD with the Egyptian Electricity Transmission Company (EETC) for a groundbreaking 1 GW solar and 100 MW/200 MWh battery storage hybrid project in Egypt. This will be the country’s first project of its kind. Scatec has also received a mandate letter from several development finance institutions for concessional financing and anticipates finalizing financial arrangements and starting construction in the first half of 2025. The company will handle Engineering, Procurement & Construction (EPC), Asset Management (AM), and Operations & Maintenance (O&M) for the project.

“This will be the first hybrid solar and battery project in Egypt and demonstrates Scatec’s strong position as one of the largest renewable energy producers in the country. We are pleased to have entered the PPA with Egyptian Electricity Transmission Company. We will now finalise land lease agreements, grid connection agreements, and financing, and prepare for construction of the project,” said Scatec CEO Terje Pilskog.