Oslo/Cairo, 11 January 2026: Scatec ASA, a leading renewable energy solutions provider, has signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a total capacity of 1.95 GW Solar and 3.9 GWh Battery Energy Storage Systems (BESS) in Egypt.
Under the agreement Scatec will deliver one integrated Solar and BESS hybrid system designed to deliver continuous, around-the-clock renewable baseload power. In addition, Scatec will develop two standalone BESS projects aimed at providing essential grid stability and support services. The combined capacity will be the largest solar and BESS installation in Africa and the largest investment in Scatec's history.
"Signing this groundbreaking PPA further cements Scatec's leading position and commitment to delivering reliable, renewable energy at a large scale in Africa. By integrating advanced solar and battery technologies, we are providing Egypt with sustainable, around-the-clock power and grid stabilising services, supporting both the country's energy transition and the region's long-term economic development," says Scatec CEO Terje Pilskog.
Scatec will be compensated under a 25-year, USD-denominated pay-as-produced Power Purchase Agreement (PPA), linked to the electricity generated by the hybrid system. The plant is expected to deliver approximately 6,000 GWh of renewable energy annually.
Scatec will provide Engineering, Procurement and Construction (EPC), Asset Management (AM) and Operations & Maintenance (O&M) services for the projects. By leveraging its proven expertise from similar large-scale hybrid and BESS projects, Scatec will ensure efficient delivery and management through all phases of the project.
Scatec is the lead developer of the projects and will invite additional equity partners. Further details on capital expenditure, EPC scope and financing structure will be disclosed at financial close, which is expected in the second half of 2026.
For further information, please contact:
For analysts and investors:
Andreas Austrell, SVP IR
andreas.austrell@scatec.com
+47 974 38 686
For media:
Meera Bhatia, SVP External Affairs & Communications
meera.bhatia@scatec.com
+47 468 44 959
About Scatec
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of 'Improving our Future'. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SCATC'. To learn more, visit www.scatec.com or connect with us on LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
