Scatec signs PPA for 900MW onshore wind project in Egypt

15 Jun 2025 16:03 CEST

Oslo/Cairo, 15 June 2025: Scatec ASA, a leading renewable energy solutions
provider, has signed a USD-denominated 25-year Power Purchase Agreement (PPA)
with the Egyptian Electricity Transmission Company (EETC) for a 900 MW wind
project, through its dedicated project company "Shadwan Wind Power SAE" to
accelerate Egypt's transition towards a greener and more sustainable energy mix.

"This project is a testament to Scatec's position as one of the leading
renewables companies in Egypt. We are now advancing four major renewables
projects in the country, with a diversified technology base. I would like to
thank all parties involved for making this happen with a particular
acknowledgement to the skills and persistence of our Egyptian team" says Scatec
CEO Terje Pilskog.

The project will be located in Ras Shukeir, which has some of the worlds' best
wind resources for onshore wind power. The signing of the PPA will be followed
by wind measurements on the site, to be finalised in the first half of 2026,
before the project is further advanced towards financial close and construction.

For further information, please contact:
For analysts and investors:
Andreas Austrell, SVP IR
andreas.austrell@scatec.com (mailto:andreas.austrell@scatec.com)
+47 974 38 686

For media:
Meera Bhatia, SVP External Affairs & Communications
meera.bhatia@scatec.com (mailto:meera.bhatia@scatec.com)
+47 468 44 959

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 6.2 GW in
operation and under construction across five 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 or connect with us on
LinkedIn.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

More information:
Access the news on Oslo Bors NewsWeb site