Scatec Secures EUR 30 Million Grant for Egypt Green Hydrogen Project

Scatec ASA’s Egypt Green Hydrogen project has secured a EUR 30 million grant from the PtX Development Fund to help finance the project, which has a total capital expenditure of approximately EUR 500 million.

The PtX Development Fund, created by the German Federal Ministry for Economic Cooperation and Development and KfW, and managed by KGAL, supports Power-to-X projects in developing and emerging countries. This is the fund’s first approved grant.“We are pleased that our Egypt Green Hydrogen project has been recognised with this EUR 30 million grant from the German government and KfW Group through the PtX Development Fund. This achievement is a testament to the maturity of the project and reaffirms the broad support we have for this project,” said Scatec CEO Terje Pilskog.