{"id":615590,"date":"2024-02-20T00:00:00","date_gmt":"2024-02-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/20\/this-evening-scatec-to-build-1-gw-solar-plant-to-power-egyptalums-nagaa-hammadi-complex\/"},"modified":"2024-02-20T00:00:00","modified_gmt":"2024-02-20T00:00:00","slug":"this-evening-scatec-to-build-1-gw-solar-plant-to-power-egyptalums-nagaa-hammadi-complex","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/20\/this-evening-scatec-to-build-1-gw-solar-plant-to-power-egyptalums-nagaa-hammadi-complex\/","title":{"rendered":"THIS EVENING: Scatec to build 1-GW solar plant to power EgyptAlum\u2019s Nagaa Hammadi complex"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and happy hump day.<\/strong> The news cycle hasn\u2019t let up yet as we are bracing ourselves for a busy end of the week. <\/p>\n

THE BIG STORY TODAY-<\/strong><\/p>\n

Another 1 GW solar plant by Scatec is officially underway:<\/strong> Norwegian renewables developer Scatec is set to build a 1-GW solar power plant to generate energy for EgyptAlum\u2019s Nagaa Hammadi industrial complex under an agreement inked by the two parties, according to a ministry<\/a>statement<\/a>. The move is part of state-owned EgyptAlum\u2019s plan to ramp up production, comply with global sustainability and manufacturing standards, and lower its carbon footprint.<\/p>\n

We knew this was coming:<\/strong>We first heard about the Nagaa Hammadi solar power plant last<\/a>month<\/a>, when the Public Enterprises Ministry announced that it had opened talks with Scatec over the project.<\/p>\n

The timeline:<\/strong> The first 500-MW phase of the project will be completed within 18 months, while the second phase is set to wrap up in two years.<\/p>\n

Scatec is doing some heavy lifting:<\/strong> The developer will finance the project, conduct studies, build the plant, and install the needed equipment.<\/p>\n

ICYMI:<\/strong> Scatec inked agreements with the government to establish a 1-GW solar and 200-MWh<\/a>battery storage<\/a> project \u2014 the first in the country \u2014 and a USD 1.1 bn green methanol<\/a> project in December 2023.<\/p>\n

HAPPENING NOW<\/strong><\/p>\n

Hamas political bureau chief is in town: <\/strong>A Hamas delegation led by Ismail Haniyah are holding talks with Egyptian officials about developments of ceasefire talks amid persistent Israeli aggression, Hamas said in a statement on Telegram.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

Neuralink is gaining traction in the international press this afternoon:<\/strong> A patient implanted with the brain tech can now control a computer mouse using their mind without any visible side effects, Elon Musk said<\/a> in an X Spaces session. After receiving their FDA approval in May, Musk\u2019s startup installed the first implant in January<\/a> using a robot. Neuralink\u2019s goal is for humans to control tech using their brains as well as restore lost vision, motor skills, and speech, but the rigorous testing process means it will be a while before FDA approval. (CNBC<\/a>)<\/p>\n

<\/a> <\/p>\n

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