Norwat-based renewable energy company Scatec ASA announced on Sunday that it has signed a USD-denominated 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 900 megawatts (MW) MW wind power project in Ras Shukeir, located north of Hurghada on the Red Sea coast.
The PPA was signed through Scatec’s dedicated project company ‘Shadwan Wind Power SAE,’ the company said in a stock exchange statement.
Scatec said the next step will be commissioning 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.
On Sunday, the company also announced the financial close for its 1.1GW solar + 100MW/200MWh BESS Obelisk project in Egypt.
(Writing by SA Kader; Editing by Anoop Menon)
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