Scatec has signed a power purchase agreement (PPA) with EETC in Egypt for a 1.95GW solar power and 3.9GWh battery energy storage system. This project will be the largest investment in Scatec’s history and will provide reliable renewable energy in Africa. The plant is expected to generate 6,000GWh of renewable energy annually.

Scatec will handle all aspects of the project including engineering, procurement, construction, and operations. They will receive compensation under a 25-year, pay-as-produced PPA. The company plans to bring in equity partners for the project and will release financial details at a later date. Sungrow will set up a factory in Egypt to produce energy storage batteries for Scatec’s project.

Egypt aims for renewable sources to make up 42% of its electricity generation by 2030. Scatec previously finalized a 15-year PPA for a solar power plant in Colombia. The company continues to expand its presence in the renewable energy sector, supporting the country’s energy transition and economic development.

Read more at Yahoo Finance: Scatec signs PPA for Egyptian solar and BESS hybrid facility