Norway’s Scatec has signed a 25-year PPA with Egyptian Electricity Transmission Co. (EETC) for a hybrid project of 1 GW solar energy and 100 MW/200 MWh battery storage in Egypt.
“This will be the first hybrid solar and battery project in Egypt,” said Terje Pilskog, CEO of Scatec. “We will now finalize the leasehold agreements, grid connection agreements and financing and prepare the construction of the project.”
Scatec said it has signed a mandate letter with several development finance institutions for concessional financing. The company expects to reach a financial agreement with lenders and begin construction of the project in the first half of 2025.
Under the terms of the agreement with state-owned EETC, Scatec will be responsible for engineering, procurement and construction, asset management and operation and maintenance services for the project.
Scatec claims to have a portfolio totaling 4.7 GW of renewable energy plants in operation and under construction, spread across four continents. In August, the company sold stakes in solar power plants in Rwanda and South Africa, which it said would help finance further growth opportunities.
Earlier this year, state-owned Egyptian Electricity Holding Co. issued a tender for the design, construction and operation of an 8.2 MW solar power plant and a 2 MW/4MWh battery energy storage system. location of an existing microgrid in western Egypt.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
Popular content
