Cairo photovoltaic energy storage cabinet

Does Egypt need EEHC & Scatec?

The Egyptian Cabinet has already approved the cooperation agreement between EEHC and Scatec. This decision aligns with the government's commitment to increasing the country's renewable energy capacity. By embracing projects like the solar and battery storage initiative, Egypt aims to diversify its energy sources and reduce its carbon footprint.

Is Egypt a good place to invest in solar energy?

Egypt has plenty of land and high solar yields, “making renewables highly competitive against other sources of energy,” the Scatec spokesperson said. But the main limiting factor is the high cost of financing as a result of rising global interest rates, they added.

What is a large-scale energy storage project?

The project aims at providing the scientific, technological and policy basis required for the development and implementation of large-scale energy storage in Egypt, enabling increased penetration of renewable energy sources in the Egyptian energy system.

How will EEHC power a hydrogen plant in Egypt?

That is set to be powered by PV and wind capacity and ACWA Power said it already has an Egyptian PV and wind development pipeline of 1.4 GW. The hydrogen plant will connect to the grid via the same 220 kV transmission line as Benban, with all power sold under a 25-year PPA to the EEHC.

Does Scatec have a solar portfolio?

Scatec claims to have a portfolio totaling 4.7 GW of renewable energy plants in operation and under construction across four continents. In August, the company sold stakes in solar plants in Rwanda and South Africa, which it said would help finance further growth opportunities.