The Egyptian Government launched a solar Feed-in-Tariff programme in 2015 with a goal of generating 20% of energy from renewable sources by 2022. With a planned capacity of 1.8 GW and covering 36 km², the Benban site near Aswan was in 2019 the world’s largest one-site solar project. Scatec entered the market in 2015 and with 380 MW in operation, the company is the largest solar developer in Egypt.
In 2017, Scatec signed 25-year Power Purchase Agreements for delivery of electricity from six plants totalling 380 MW with the Government of Egypt. Benban site near Aswan in Upper Egypt where Scatec was in 2019 the world's largest one-site project. This is Scatec’s largest and our first project using bifacial solar modules. The bifacial modules are producing energy from both sides of the solar panel, increasing the total clean energy generation. The project holds a 25-year PPA with the Egyptian Electricity Transmission Company. The equity partners are KLP Norfund Investments AS and Africa 50. Lenders are EBRD, FMO, IsDB, ICD and Green CF.
Scatec has partnered with Fertiglobe, The Sovereign Fund of Egypt and Orascom Construction to develop, build, own and operate a 100 MW green hydrogen production facility in Ain Sokhna in Egypt. When the project is fully developed the facility will be powered by 260 MW of solar and wind capacity.
During the second quarter 2022 the partners signed a binding term sheet with Fertiglobe for a 20-year offtake agreement for 100% of the volumes produced. The green hydrogen will be used as feedstock for production of green ammonia.
Scatec will be the lead equity investor in the project and provide EPC services for the solar plant, while Orascom Construction will be the EPC provider for hydrogen and wind. Scatec will further provide O&M and AM services for the project alongside key technology providers and project partners.