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allocation for Scated renewable projects
Scatec snaps up a golden license: Scatec’s Obelisk Solar was granted a golden license for a USD 600 mn solar project over a 16.3 sq km area in Egypt’s Nagaa Hammadi during a cabinet meeting yesterday. The project is set to produce 1 GW of power and have a 200 MWh battery storage system, with its output to be bought by the national grid.
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The timeline: The first 500 MW are set to go online in February 2026, with the remaining 500 MW to start feeding the grid starting August 2026.
The news clears up some confusion as to why Scatec’s project to power EgyptAlum seemed to abruptly double in size back in March. The Norwegian renewables player’s project to build a 1 GW solar plant to power EgyptAlum’s aluminum complex — also in Nagaa Hammadi — has been in the works since at least January and made official the month after, but a statement from Qena Governorate soon after seemed to contradict Scatec’s agreement with the Public Enterprises Ministry by doubling the capacity of the project.
It looks like the 2 GW, USD 1.1 bn project is actually two projects, split between a 1 GW solar plant for EgyptAlum and a second 1 GW project that will send its output to the Egyptian Electricity Transmission Company (EETC) — which is the one that just got a golden license.
That’s not all: Scatec also inked a 900 MW power purchase agreement with the EETC, but it’s not clear if the 900 MW will be from an entirely new and unannounced project or a project already in the works.
Egypt’s cabinet also greenlit land for solar and wind projects to power Scatec’s green ammonia venture in Damietta. Damietta Green Ammonia Company — a JV established by Scatec, the Egyptian Petrochemical Holding Company, and Misr Fertilizer Production Company (Mopco) — has been allocated land in the Gulf of Suez for wind projects and another plot on the west side of the Nile for a solar power project to power the USD 900 mn plant, under the agreement.
