Norway’s Scatec mulls new energy projects with Egypt – CEO

Norwegian renewable energy producer Scatec ASA is in discussions with Egypt about signing new agreements involving energy sector, CEO Terje Pilskog told Amwal Al Ghad English on the sidelines of Egypt Energy Show EGYPES 2024.

Pilskog said Scatec is seeing “significant opportunities” in developing solar, wind, and hybrid energy projects in Egypt, adding that the company had already signed several agreements in these areas under Power Purchase Agreements (PPAs).

He further said that Egypt had the potential to use more low-cost renewable energy in order to continue develop new industries, that can be in green hydrogen. Access to low-cost renewables is essential for the economics of green hydrogen, the CEO of Scatec noted.

Moreover, Pilskog said big companies in Egypt that compete globally – such as Egyptalum – have to start decarbonising their manufacturing process.

Globally, Pilskog said: “we see that green ammonia market is developing slightly slower than what we had anticipated, but we have a couple of very good projects that we’re working on within the green hydrogen ammonia.”