Norway’s Scatec signed a 25-year PPA with Egyptian Electricity Transmission Co. (EETC) for a 1 GW photo voltaic and 100 MW/200 MWh battery storage hybrid mission in Egypt.
“This is the primary hybrid photo voltaic and battery mission in Egypt,” mentioned Scatec CEO Terje Pilskog. “We will finalize land lease agreements, grid connection agreements and financing, and put together for the development of the mission.”
Scatec mentioned it signed a mandate letter with some improvement financing establishments for concessional financing. The firm expects to succeed in monetary shut with the lenders and begin constructing the mission within the first half of 2025.
Under the phrases of the settlement with state-owned EETC, Scatec might be chargeable for engineering, procurement & development, asset administration and operations and upkeep providers for the mission.
Scatec claims to have a portfolio totaling 4.7 GW of renewable vitality vegetation working and below development on 4 continents. In August, the corporate offered stakes in photo voltaic vegetation in Rwanda and South Africa, which it mentioned would assist finance further development alternatives.
Earlier this yr, the state-owned utility Egyptian Electricity Holding Co. held an expressions-of-interest tender for the design, development and operation of an 8.2 MW photo voltaic plant and a 2 MW/4MWh battery vitality storage system, to be constructed on the location of an present microgrid in western Egypt.
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