Norway's Scatec signs pact to refinance projects in Egypt

MENA , Wednesday 27 Apr 2022

Prime Minister Mostafa Madbouly attended on Wednesday in Cairo the signing of a cooperation protocol by Norway's Scatec and its partners to refinance six projects they own in Benban solar park in Aswan, with a production capacity of 380 megawatts.

Madbouly
PM Mostafa Madbouly attending the signing ceremony in Cairo on Wednesday (Photo: Egyptian Cabinet)

 

Related
KarmSolar to operate solar grid in Marsa Alam to distribute electricity to resorts
Egypt produced 4,500 GWh of solar energy in 2021: Cabinet media centre
Egypt’s AOI sets up 4MW solar power plant in Uganda

Under the agreement, Scatec, which is a leading renewable power producer, and its partners will refinance the projects with 19-year green bonds worth $334.5 million through a host of international investment institutions.

The agreement was signed by Chairman of Banque Misr Mohamed El-Etreby, Scatec CEO Terje Pilskog, Chairman of the Egyptian Electricity Transmission Company Sabah Mashali, Executive Chairman of New and Renewable Energy Authority Mohammed El-Khayat, and Assistant Finance Minister Sherine El-Sharkawi.

Egypt has implemented multiple renewable energy projects over the past decade, including the Benban solar park, which houses more than 32 solar energy projects from photovoltaic cells with a total capacity of about 1,465 megawatts.

Short link:

 

Also In Energy

# British Petroleum to begin production from new well in Egypt by Q1 2025
# Egypt, Jordan sign MoU to leverage gas infrastructure at lower costs
# Egypt partners with Swiss & Emirati firms to build EGP 1 bln plant for infrastructure piping
# Egypt, UAE sign agreements to boost renewable energy transition and sustainable development
# Egypt signs 2 MoUs for generating 5,200 MW of electricity from renewable energy
# Climate adaptation needs more resources, impactful coordination: Egypt environment minister at COP29
# Egyptian Competition Authority approves Emirates ADQ acquisition of stakes in 3 oil companies
# QatarEnergy to acquire 23% working interest in key Egyptian offshore block in Dabaa
#