Scatec Concludes Major Wind Power Deal in Egypt's Energy Future

Scatec's Commitment to Sustainable Energy in Egypt

Scatec ASA, a prominent player in renewable energy solutions, has recently inked a significant 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a remarkable 900 MW wind project. This initiative is designed to propel Egypt towards a more sustainable energy model, supported by Scatec’s dedicated project arm, Shadwan Wind Power SAE.

Significance of the Project

The newly secured PPA marks a substantial milestone for Scatec, reinforcing its status as a leader in the renewable energy sector within Egypt. CEO Terje Pilskog expressed gratitude towards all parties involved, particularly acknowledging the diligent efforts of the local Egyptian team. He stated, “This project showcases our growing presence in Egypt’s renewable landscape as we develop diverse technological solutions.”

Strategic Location

Located in Ras Shukeir, the project site is strategically chosen due to its outstanding wind resources ideal for generating onshore wind energy. Following the signing of the PPA, the next step involves comprehensive wind measurements to be completed by mid-2026. This data will be crucial for moving towards financial closure and construction commencement.

Future Developments and Goals

As Scatec continues to expand its footprint in Egypt, the company is advancing four significant renewable projects, further contributing to the country’s green energy transition. With a deep commitment to fostering sustainable energy solutions, Scatec is dedicated to accelerating the adoption of affordable and reliable clean energy sources across emerging markets.

Scatec's Global Impact

Scatec not only operates within Egypt but has also established a strong presence globally, managing a substantial portfolio of 6.2 GW of renewable energy plants currently in operation or under construction across five continents. This robust base allows them to leverage diverse experiences and best practices, enhancing their ability to effectively contribute to renewable energy initiatives worldwide.

Contact Information for Inquiries

For further information on Scatec’s exciting projects and partnerships, please reach out to the relevant contacts below:

Investor Relations

For analysts and investors, connect with Andreas Austrell, SVP IR, at andreas.austrell@scatec.com or by phone at +47 974 38 686.

Media Relations

For media inquiries, please contact Meera Bhatia, SVP External Affairs & Communications, at meera.bhatia@scatec.com or at +47 468 44 959.

About Scatec

Scatec is an innovative leader in renewable energy solutions, dedicated to improving access to clean, reliable energy in emerging markets. They develop, build, own, and operate renewable energy facilities, with continuous growth driven by a passionate team aligned with the vision of ‘Improving our Future.’ Headquartered in Oslo, Norway, Scatec is publicly traded on the Oslo Stock Exchange under the ticker symbol SCATC. For more insights into their endeavors, visit their official site or follow them on LinkedIn.

Frequently Asked Questions

What is Scatec's recent achievement in Egypt?

Scatec has signed a 25-year Power Purchase Agreement for a 900 MW wind project with the Egyptian Electricity Transmission Company.

Where is the wind project located?

The wind project will be situated in Ras Shukeir, an area known for its exceptional wind resources.

What does the project's future timeline look like?

Wind measurements on the site are expected to finish by mid-2026, paving the way for financial closure and subsequent construction.

Who can I contact for media inquiries about Scatec?

For media inquiries, reach out to Meera Bhatia, SVP External Affairs & Communications at meera.bhatia@scatec.com.

What are Scatec's overall goals?

Scatec aims to enhance the availability of affordable and reliable clean energy while developing a diverse portfolio of renewable projects globally.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

Contact Evelyn Baker privately here. Or send an email with ATTN: Evelyn Baker as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.