In the first phase, Scatec will construct 561 MW of solar capacity and 100 MW/200 MWh of battery storage, aiming for commercial operation in the first half of 2026. The second phase will add 564 MW of solar capacity, with completion expected in the second half of 2026.
Scatec has secured a 25-year power purchase agreement with the Egyptian Electricity Transmission Company, signed in March, to support the project’s operations. The company will provide engineering, procurement, construction, asset management, operations, and maintenance services.
The project’s total capital expenditure is estimated at $590 million. Financing includes approximately 80% non-recourse long-term project debt. Additionally, Scatec has arranged equity bridge loans totaling $120 million, comprising $90 million from the Arab Energy Fund and $30 million from the European Bank for Reconstruction and Development. These loans will defer equity injections until the end of the construction period.
Scatec’s CEO stated: “This project is a significant step in advancing renewable energy infrastructure in Egypt, combining solar and battery storage to enhance energy reliability.” The initiative aligns with Egypt’s efforts to expand sustainable energy solutions, contributing to regional energy goals.
