Scatec
The President reaffirmed the state’s strong commitment to localizing technology, increasing the local component in major projects, and strengthening partnerships with leading international companies to meet growing domestic and global demand for renewable energy, while securing and enhancing supply chains.
Abdelatty highlighted Scatec’s plans to establish a wind turbine manufacturing facility aimed at localizing the industry, as well as a solar-powered desalination plant, in line with the Egyptian presidential directives to expand the company’s activities in the country.
The investment portfolio that Scatec is implementing within the energy axis of the "NWFE " program is valued at $3.6 billion. This includes the "Obelisk" solar power plant project in Nag Hammadi and a project to build a solar power plant with a total capacity of 1 gigawatt, plus 200 megawatt-hours of battery storage for the Aluminium Company of Egypt (Egyptalum).
According to the agreement, the station will be built in two phases, with a capacity of 500 MW for each phase.
This comes within the framework of the national strategy to generate clean energy, said the Egyptian Presidency in a statement on the meeting in Egypt.
The session was moderated by Heike Harmgart, Regional Director for the Southern and Eastern Mediterranean at the European Bank for Reconstruction and Development.
The investment cost of the project is estimated at about $5 billion, and it will be implemented in two phases, and production is expected to start in 2025, according to Cabinet Spokesman Nader Saad.
Egypt’s President Abdel Fattah El-Sisi discussed on Wednesday with Raymond Carlsen, CEO of Norway’s Scatec company, chances of cooperation to localize water desalination technology.
