Scottec recently signed a 25 year Power Purchase Agreement (PPA) with Egypt, planning to invest $650 million to build a large-scale photovoltaic+energy storage project. The project includes a 100MW photovoltaic power station and a 300MW/2000MWh energy storage system, and is expected to be economically operational within the next 12 months.

This project is an important component of Egypt's renewable energy strategy, aimed at reducing carbon emissions through green energy production and meeting the requirements of the European Carbon Border Adjustment Mechanism (CBAM). The Egyptian government plans to increase the proportion of renewable energy generation to 60% by 2030, and this project will provide important support for it.

Scottec plays a key role in engineering, procurement, and construction (EPC) in the project, and is responsible for asset management (AM) and operations and maintenance (OAM) services for the project. The project investment structure includes 20% equity financing and 80% project debt financing, with 50% of the debt financing provided by international financial institutions and the remaining completed by Scottec and its partners.

Scottec plans to achieve long-term investment returns by introducing a new investment portfolio and further enhance Egypt's energy efficiency, driving grid upgrades. This project will not only help Egypt achieve its green energy goals, but also showcase Scottec's leading position in the global renewable energy sector. (This article is from the official website of Jian Dao www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website strategy column editor/Wu Juan