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.
