Norway’s Scatec Signs Agreement to Construct 1-Gigawatt Solar Plant in Upper Egypt

Norway’s Scatec Signs Agreement to Construct 1-Gigawatt Solar Plant in Upper Egypt

Norwegian renewable energy firm Scatec inked an agreement with the Aluminium Company of Egypt (EgyptAlum) to construct a one-gigawatt solar power plant to power the Nagaa Hammadi industrial complex in Upper Egypt, a Facebook statement by the Ministry of Public Business Sector on 21 February. “The project, in partnership with Norway’s Scatec, aims to support EgyptAlum’s expansion plans, comply with global sustainability standards, and reduce carbon emissions. No financial details were disclosed,” the ministry’s statement said. While the financial specifics of the project remain undisclosed, Scatec is poised to undertake a significant role in its execution, including financing the project, conducting essential studies, overseeing the plant’s development, and installing requisite equipment. The project will be rolled out in two phases, with the initial 500-megawatt phase slated for completion within 18 months, followed by the second phase scheduled to conclude within two years. The partnership between Scatec and EgyptAlum was initially hinted at last month when the ministry revealed ongoing discussions with Scatec regarding the venture in a Facebook statement on 18 January. The solar plant project aligns with Scatec’s ongoing involvement in Egypt’s renewable energy sector. In July 2023, Egypt’sContinue reading "Norway’s Scatec Signs Agreement to Construct 1-Gigawatt Solar Plant