Scatec ASA

Scatec signs PPA for 1 GW solar and 100 MW/200 MWh battery storage project in Egypt

12 September, Cairo/Oslo: Scatec ASA has signed a USD denominated 25-year power

purchase agreement (PPA) with Egyptian Electricity Transmission Company (EETC)

for a 1 GW solar and 100 MW/200 MWh battery storage hybrid project in Egypt, the

first of its kind in the country.

"This will be the first hybrid solar and battery project in Egypt and

demonstrates Scatec's strong position as one of the largest renewable energy

producers in the country. We are pleased to have entered the PPA with Egyptian

Electricity Transmission Company. We will now finalise land lease agreements,

grid connection agreements, and financing, and prepare for construction of the

project," says Scatec CEO Terje Pilskog.

Scatec has signed a mandate letter with several development financing

institutions for concessional financing and expects to reach financial close

with the lenders and start construction of the solar and BESS hybrid project in

the first half of 2025. Scatec will provide Engineering, Procurement &

Construction (EPC), Asset Management (AM) and Operations & Maintenance (O&M)

services for the project.

For further information, please contact:

For analysts and investors: Andreas Austrell, VP IR, phone:

(mailto:[email protected])For media: Meera Bhatia, SVP External

Affairs & Communications, phone: +47 468 44 959, [email protected]

About Scatec

Scatec is a leading renewable energy solutions provider, accelerating access to

reliable and affordable clean energy in emerging markets. As a long-term player,

we develop, build, own, and operate renewable energy plants, with 4.7 GW in

operation and under construction across four continents today. We are committed

to grow our renewable energy capacity, delivered by our passionate employees and

partners who are driven by a common vision of 'Improving our Future'. Scatec is

headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the

ticker symbol 'SCATC'. To learn more, visit www.scatec.com

(https://scatec.com/) or connect with us on LinkedIn

(https://www.linkedin.com/company/scatec).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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