twitteryou tubefacebookacp

Scatec Solar and partners sign power purchase agreements for solar plants in Egypt

The signing ceremony took place in Cairo in presence of Egypt?s minister of electricity and renewable energy Mohamed Shaker El-Markabi (right) and the Ambassador of Norway Sten Arne Rosnes. (Image source: Scatec Solar)

Scatec Solar and partners have signed 25-year power purchase agreements for delivery of electricity from six solar plants totalling 400MW with Egypt

All the plants located in Ben Ban area near Aswan in Upper Egypt are expected to generate about 870 GWh of solar electricity per year. These projects are part of the two gigawatts solar FiT programme launched by the Egyptian government in 2015. The electricity produced from the 400MW is expected to replace about 350,000 tonnes of CO2 emissions per year, supporting Egypt?s emission reduction targets under the Paris Climate Agreement.

?With this programme, Egypt is making important steps towards accessing clean and low cost electricity to drive development and economic prosperity. Scatec Solar and partners are making significant investments and long term commitment to Egypt,?' said Raymond Carlsen, CEO of Scatec Solar.

The total investment for the 400MW of solar plants is estimated at US$450mn and the plants are expected to generate annual revenues of about US$60mn over the 25-year contract period. Scatec Solar will build, own and operate all six projects and Scatec Solar?s share of equity investments will be in the range of US$50-70mn. Scatec Solar is partnering with local developers and with KLP Norfund Investments for equity investments in the projects and may add additional partners to an equity consortium before financial close.

European Bank for Reconstruction and Development (EBRD) is leading a consortium of banks that is expected to support the six projects with a total debt of up to US$350mn.

Scatec Solar is one of the leading developers and owners of large-scale solar plants in Africa, Europe, Middle East and Americas. With the latest addition, Scatec Solar?s project backlog consists of 1,131MW.

Erich Kaltmann, managing director of Mosdorfer GmbH. (Image source: Mosdorfer)

With RFID, assets can be given unique digital identities that enable you to identify and locate them all at once, from a distance, in real time.

Etihad Rail routinely conducts environmental impact assessments. (Image source: Etihad Rail)

The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)

UL Solutions launches HOMER Front 1.0, enhancing energy storage system design with advanced forecasting capabilities. (Image source: UL Solutions)

Special belt covers guarantee an effective reduction in dust. (Image source: Wirtgen Group)

Daryl Wake, business development manager, DEKRA

Schneider Electric will also provide ongoing energy management consultancy and power systems engineering expertise. (Image source: Schneider Electric)

Markus Oberlin, CEO of Farnek. (Image source: Farnek)

DNV's survey unveils energy sector optimism amid challenges, with political uncertainty looming. (Image source: Adobe Stock)

The villa has an overall built-up area of 300 sqm. (Image source: 3DXB)

The emphasis is on constantly optimising value creation processes. (Image source: Rittal)

The UAE’s construction market was valued at US$94bn in 2023. (Image source: Peikko Gulf)

SSAB will begin deliveries of the new products in 2026. (Image source: Manitou Group)

The plant will add 80MW of power generation capacity from a non-fossil fuel source. (Image source: ALEC)

UL Solutions launches HOMER Front 1.0, enhancing energy storage system design with advanced forecasting capabilities. (Image source: UL Solutions)

SSAB will begin deliveries of the new products in 2026. (Image source: Manitou Group)

The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)

DNV's survey unveils energy sector optimism amid challenges, with political uncertainty looming. (Image source: Adobe Stock)

An example of the kanban method deployed at Staytite. (Image source: Staytite)

Markus Oberlin, CEO of Farnek. (Image source: Farnek)

Erich Kaltmann, managing director of Mosdorfer GmbH. (Image source: Mosdorfer)

The emphasis is on constantly optimising value creation processes. (Image source: Rittal)

With RFID, assets can be given unique digital identities that enable you to identify and locate them all at once, from a distance, in real time.

The ground-breaking product on display is the FLIR Si2-Pro, an industrial acoustic imaging camera for partial discharge detection, pressurised leak detection and mechanical fault detection. (Image source: Teledyne FLIR)

The four-point track system is available globally on four boom lifts up to 80 ft / 24 m class. (Image source: Genie)

Etihad Rail routinely conducts environmental impact assessments. (Image source: Etihad Rail)

The UAE’s construction market was valued at US$94bn in 2023. (Image source: Peikko Gulf)

David Mooney, vice president and MENA lead at Efficio. (Image source: Efficio)