Scatec and Egyptalum Sign $650 Million Agreement for 1,000 MWh Solar Power Plant

Image: Daily News

Recently, Norwegian renewable energy company Scatec has signed an agreement with Egyptian aluminum producer Egyptalum. The project aims to provide clean electricity to Egyptalum’s aluminum plant in Nagaa Hammadi, Egypt.

The solar power plant, with a total capacity of 1,000 megawatt-hours, will be implemented over 24 months in two consecutive phases, each generating 500 megawatt-hours. The project will also include the installation of battery storage systems with a total capacity of up to 200 megawatts.

With an estimated total investment of approximately $650 million, the project will be fully financed, built, and operated by Scatec under a Power Purchase Agreement (PPA). The plant will supply a significant share of Egyptalum’s energy needs, reducing dependence on conventional power sources.