Scatec ASA has signed a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC). The project aims to build a 1 GW solar and 100 MW/200 MWh storage hybrid project in Egypt.
Scatec's CEO, Terje Pilskog, stated, "This will be Egypt's first hybrid solar and storage project, and the signing of the contract demonstrates Scatec's strong position as one of the largest renewable energy producers in Egypt. We are delighted to sign the PPA with the Egyptian Electricity Transmission Company, and we will soon finalize the land lease agreement, grid connection agreement, and financing, preparing for the project's construction."
Scatec has already signed a letter of intent with several development finance institutions and is expected to reach a financial agreement with lenders, with construction of the solar + storage hybrid project set to begin in the first half of 2025. Scatec will provide engineering, procurement, and construction (EPC), asset management (AM), and operations and maintenance (O&M) services for the project.
Meanwhile, Dubai-based developer Amea Power plans to build a 1 GW solar + 900 MWh storage project in Egypt. The company has previously signed two PPAs with the Egyptian Electricity Transmission Company.
Both Amea Power projects are located in Aswan Governorate, Egypt. The first project involves a 1 GW solar + 600 MWh storage project in Benban. The second project is a 500 MW solar + 300 MWh storage project in Abydos, with the solar portion currently under construction.
Amea Power stated that the Benban project will be Africa’s largest solar + storage project, while the Abydos project will be Egypt’s first-ever centralized large-scale storage solution. The company has invested $800 million in these two projects, which are expected to provide energy to over 769,000 households.
Source：https://mp.weixin.qq.com/s/PfZWEa5RtSNZ3s3z9EUmwA
