Norwegian renewables firm Scatec is progressing both wind and solar projects across Egypt. On 15 June it announced plans to build a 900MW onshore wind project at Ras Shukeir on the Gulf of Suez and also said it has reached financial close of the 1.1GW ‘Obelisk’ solar project in southern Egypt, where it began construction in May (MEES, 9 May).
Scatec says it has signed a US dollar-denominated 25-year Power Purchase Agreement (PPA) with state owned Egyptian Electricity Transmission Company (EETC) for the wind project. (CONTINUED - 272 WORDS)