8 hours ago
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Oslo/Cairo, 15 June 2025: Scatec ASA, a leading renewable energy solutions provider, has signed a USD-denominated 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 900 MW wind project, through its dedicated project company "Shadwan Wind Power SAE” to accelerate Egypt's transition towards a greener and more sustainable energy mix.
"This project is a testament to Scatec's position as one of the leading renewables companies in Egypt. We are now advancing four major renewables projects in the country, with a diversified technology base. I would like to thank all parties involved for making this happen with a particular acknowledgement to the skills and persistence of our Egyptian team” says Scatec CEO Terje Pilskog.
The project will be located in Ras Shukeir, which has some of the worlds' best wind resources for onshore wind power. The signing of the PPA will be followed by wind measurements on the site, to be finalised in the first half of 2026, before the project is further advanced towards financial close and construction.
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Andreas Austrell, SVP IR
+47 974 38 686
For media:
Meera Bhatia, SVP External Affairs & Communications
+47 468 44 959
About Scatec
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of 'Improving our Future'. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SCATC'. To learn more, visit www.scatec.com or connect with us on LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
