Scatec signs landmark PPA in Egypt for 1.95 GW Solar and 3.9 GWh BESS capacity

11 Jan 2026 10:06 CET

Oslo/Cairo, 11 January 2026: Scatec ASA, a leading renewable energy solutions
provider, has signed a Power Purchase Agreement (PPA) with the Egyptian
Electricity Transmission Company (EETC) for a total capacity of 1.95 GW Solar
and 3.9 GWh Battery Energy Storage Systems (BESS) in Egypt.

Under the agreement Scatec will deliver one integrated Solar and BESS hybrid
system designed to deliver continuous, around-the-clock renewable baseload
power. In addition, Scatec will develop two standalone BESS projects aimed at
providing essential grid stability and support services. The combined capacity
will be the largest solar and BESS installation in Africa and the largest
investment in Scatec's history.

"Signing this groundbreaking PPA further cements Scatec's leading position and
commitment to delivering reliable, renewable energy at a large scale in Africa.
By integrating advanced solar and battery technologies, we are providing Egypt
with sustainable, around-the-clock power and grid stabilising services,
supporting both the country's energy transition and the region's long-term
economic development," says Scatec CEO Terje Pilskog.

Scatec will be compensated under a 25-year, USD-denominated pay-as-produced
Power Purchase Agreement (PPA), linked to the electricity generated by the
hybrid system. The plant is expected to deliver approximately 6,000 GWh of
renewable energy annually.

Scatec will provide Engineering, Procurement and Construction (EPC), Asset
Management (AM) and Operations & Maintenance (O&M) services for the projects. By
leveraging its proven expertise from similar large-scale hybrid and BESS
projects, Scatec will ensure efficient delivery and management through all
phases of the project.

Scatec is the lead developer of the projects and will invite additional equity
partners. Further details on capital expenditure, EPC scope and financing
structure will be disclosed at financial close, which is expected in the second
half of 2026.

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

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