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Norway-headquartered renewable energy developer Scatec ASA has signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a total of 1.95 gigawatts (GW) of solar capacity and 3.9 gigawatt-hours (GWh) of battery energy storage, the company said.
Under the agreement, Scatec will develop an integrated solar and battery hybrid project capable of supplying continuous baseload renewable power, alongside two standalone battery energy storage system (BESS) projects designed to provide grid stability and support services.
Once completed, the projects will represent the largest solar and BESS installation in Africa and the biggest investment in Scatec’s history.
The projects will operate under a 25-year, U.S. dollar-denominated, pay-as-produced PPA, with the hybrid system expected to generate about 6,000 gigawatt-hours of electricity annually, Scatec said.
Scatec will act as lead developer and provide engineering, procurement and construction (EPC), as well as asset management and operations and maintenance services.
The company plans to bring in additional equity partners, with details on capital expenditure and financing to be disclosed at financial close, expected in the second half of 2026.
Scatec CEO Terje Pilskog said the deal would support Egypt’s energy transition by delivering reliable, round-the-clock renewable power and enhancing grid stability.
In December 2025, Scatec had announced that it signed shareholder agreements with Norfund, the Norwegian investment fund for developing countries and EDF power solutions for an equity partnership in its 1.1 gigawatts (GW) solar and 100 MW (megawatts) /200 MWh (megawatt-hours) battery storage hybrid project, 'Obelisk,' in Egypt.
Obelisk achieved financial close in June 2025.
(Writing by Anoop Menon; Editing by SA Kader)
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