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Scatec yesterday signed a land allocation agreement with the Electricity Ministry for a planned 5-GW wind farm in Sohag governorate, cabinet said in a statement.
What we know: The USD 5 bn plant will create 8k jobs, 300 of which will be permanent once the plant is operational, according to the statement. The facility will be one of the largest in Africa, Scatec CEO Terje Pilskog said at the signing ceremony yesterday.
What we don’t: The statement didn’t disclose projected timelines for the project or provide clarity on the offtake agreement for the power the farm will generate.
This is the second COP27 wind MoU to move forward: Yesterday’s agreement comes nine months after the Norwegian renewables developer signed an MoU for the project with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority. A consortium consisting of Masdar, Infinity Power, and Hassan Allam Utilities inked last month a land-allocation agreement for a 10-GW wind plant, having also signed the original memorandum of understanding at COP27 in Sharm El Sheikh.
Sohag is emerging as one of the country’s future wind energy hubs: Both the Scatec and Masdar-led wind plants will be based in Sohag, putting a combined 15 GW of generation capacity in the governorate.
Both projects will be key to Egypt hitting its renewables targets: Egypt wants renewable energy to contribute 42% of the country’s total energy mix by 2030 and 60% by 2040.
Scatec is becoming a key player in the nation’s green energy infrastructure: The Norwegian developer is part of the consortium establishing Egypt’s first green hydrogen plant, and in recent months has signed early agreements to construct a USD 450 mn green methanol plant, a 1 mn ton-per-year green ammonia plant, and a 3-GW electricity link that would transport renewably-generated power from Egypt to Europe. It also operates six solar plants with a combined 380 MW of capacity at the Benban site near Aswan.
The story is getting plenty of airtime on state television, as we note in Last Night’s Talk Shows.
