Oslo, 8 October 2024: Scatec ASA’s Egypt Green Hydrogen project has today signed an agreement with the PtX Development Fund for a grant of EUR 30 million for partial financing of the project which will have a total capex of approximately EUR 500 million.

The PtX Development Fund is established by the German Federal Ministry for Economic Cooperation and Development and KfW, and managed by KGAL, with the aim to support Power-to-X projects in developing and emerging countries. This is the first grant approved by the fund.

“We are pleased that our Egypt Green Hydrogen project has been recognised with this EUR 30 million grant from the German government and KfW Group through the PtX Development Fund. This achievement is a testament to the maturity of the project and reaffirms the broad support we have for this project," says Scatec CEO Terje Pilskog.

For more information please visit the PtX Development Fund web site: Welcome – Power-to-X Development Fund (ptx-fund.com)

For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686,
[email protected]
For media: Meera Bhatia, SVP External Affairs & Communications, phone: +47 468 44 959, [email protected]

About Scatec  
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 4.7 GW in operation and under construction across four 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