{"id":649428,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/09\/scatec-secures-german-grant-for-the-egypt-green-hydrogen-plant-plus-news-from-paytab-cfi-beltone\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"scatec-secures-german-grant-for-the-egypt-green-hydrogen-plant-plus-news-from-paytab-cfi-beltone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/09\/scatec-secures-german-grant-for-the-egypt-green-hydrogen-plant-plus-news-from-paytab-cfi-beltone\/","title":{"rendered":"Scatec secures German grant for the Egypt Green Hydrogen plant. PLUS: News from PayTab, CFI, Beltone"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Germany\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.ptx-fund.com\/\" style=\"\" rel=\"noopener\">PtX Development Fund<\/a><\/strong><strong> grants Scatec EUR 30 mn to support the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b67253da-eb4a-4598-8b09-1c571a59632b\/fertiglobe-rubber-stamps-eur-397-mn-green-ammonia-offtake-agreement-with-germany%e2%80%99s-h2global.-plus:-oil-found,-mystery-chinese-auto-company-eyes-egypt,-japanese-schools-in-the-works,-flight-incentives\" style=\"\" rel=\"noopener\">Egypt Green Hydrogen plant<\/a><\/strong> that the Norwegian renewables giant is setting up with Fertiglobe, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ZqjepALTsWnZ6Qt4r8NRXMWVhGPbmMWhZen6SLcH1mAGDUmm1bYCFAx1BzCcMr7rl?rdid=xQgw0lxS9TRguSPr\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s part of a wider project to fuel Europe\u2019s green hydrogen import ambitions: <\/strong>The EUR 30 mn grant is part of a wider EUR 270 mn project to support green hydrogen production efforts in Egypt and six other countries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>Germany, through its H2Global hydrogen initiative, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f049fa22-56b2-4eef-aaec-6571ab41fb5e\/fertiglobe-awarded-eur-397-mn-bid-to-supply-europe-with-green-ammonia\" style=\"\" rel=\"noopener\">was<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f049fa22-56b2-4eef-aaec-6571ab41fb5e\/fertiglobe-awarded-eur-397-mn-bid-to-supply-europe-with-green-ammonia\" style=\"\" rel=\"noopener\">awarded a 20-year<\/a> EUR 397 mn green ammonia offtake agreement with UAE-based renewables player Fertiglobe. Egypt Green Hydrogen will provide the green hydrogen needed for Fertiglobe to produce green ammonia at its ammonia plants that will then be exported to Europe under the agreement. The entire project will cost EUR 500 mn, Scatec said in a separate <a target=\"_blank\" href=\"https:\/\/scatec.com\/2024\/10\/08\/scatec-awarded-eur-30-million-grant-from-ptx-development-fund-for-the-egypt-green-hydrogen-project\/\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Solar panel mounting and installation factory in the works: <\/strong>The first USD 1.8 mn phase of a solar panel mounting and installation factory is set to kick off in two months under a contract inked between industrial developer Main Development Company and project owner Pyramids Alu \u2014 a JV between Egypt\u2019s Alu Afric and China\u2019s Alu Pro, according to a Suez Canal Economic Zone (SCZone) <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/Y8EMRk6yjMbz4umX\/\" style=\"\" rel=\"noopener\">statement<\/a>. The factory, being set up in the SCZone, should eventually reach a monthly capacity of 1.8k tons and only local components in its production. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SMES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Beltone SMEs doubles paid-in capital:<\/strong> Beltone Holding\u2019s Beltone SMEs increased its paid-in capital to EGP 500 mn, up from EGP 250 mn, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/654.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/654.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The move demonstrates the company\u2019s \u201cstrategic commitment to expanding operations and supporting Egypt\u2019s dynamic SME sector.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cWe are on track to achieve a portfolio of EGP 1 bn by the end of 2024. This paid-in capital expansion enables us to further accelerate our efforts to support the SME sector, which is a key driver of Egypt\u2019s economic growth,\u201d CEO Asharf Abdel Fattah said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Euromena to exit International Eye Hospital?<\/strong> Lebanese private equity fund Euromena II is reportedly looking to offload its entire 51% stake in local healthcare chain International Eye Hospital, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/08\/1832400\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources. The fund is currently in talks with one local and one foreign investor, with the sale expected to wrap up before the end of 1Q 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Al Borsa reported <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e7edea5-7d04-4ad3-945e-cad50b1bca7e\/\" style=\"\" rel=\"noopener\">in August<\/a> that an unnamed strategic investor was looking to acquire no less than 51% of the hospital, and said the talks should come to a conclusion by the end of 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT <strong>BANK<\/strong>S-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A new investment bank incoming? <\/strong>Jordanian trading platform CFI Financial Group plans to set up an investment bank in Egypt as part of its expansion plan, CEO of CFI Egypt Sameh El Azab told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%b3%d9%89-%d8%a5%d9%81-%d8%a3%d9%8a-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%aa%d8%ad%d9%88%d9%8a%d9%84-%d8%b0%d8%b1%d8%a7%d8%b9%d9%87%d8%a7-%d9%81%d9%89-%d9%85%d8%b5%d8%b1-%d8%a5%d9%84%d9%89\/\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%b3%d9%89-%d8%a5%d9%81-%d8%a3%d9%8a-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%aa%d8%ad%d9%88%d9%8a%d9%84-%d8%b0%d8%b1%d8%a7%d8%b9%d9%87%d8%a7-%d9%81%d9%89-%d9%85%d8%b5%d8%b1-%d8%a5%d9%84%d9%89\/\" style=\"\" rel=\"noopener\">l M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/%d8%b3%d9%89-%d8%a5%d9%81-%d8%a3%d9%8a-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%aa%d8%ad%d9%88%d9%8a%d9%84-%d8%b0%d8%b1%d8%a7%d8%b9%d9%87%d8%a7-%d9%81%d9%89-%d9%85%d8%b5%d8%b1-%d8%a5%d9%84%d9%89\/\" style=\"\" rel=\"noopener\">al<\/a>. The bank will offer securities trading, asset management, and other services. The group will start setting up the investment bank in three year\u2019s time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CFI is still the new kid on the block<\/strong>, with the firm only <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da170504-c567-4329-89c3-860088866a12\/orascom-construction,-metito-to-build-usd-2.4-bn-desalination-plant-in-abu-dhabi.-plus:-standard-chartered-eyes-egypt,-fx-crisis-hits-arab-alloys-industrial-complex\" style=\"\" rel=\"noopener\">beginning to operate<\/a> in Egypt in 2023, setting up branches in Cairo and Alexandria. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>PayTabs has partnered with Global Corp\u2019s consumer financing platform Ollin<\/strong> to integrate its payment technology into Ollin's services, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/644.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/644.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The collaboration aims to \u201cfurther propel [Ollin\u2019s] technological advancements, offering customers even more comprehensive financial service experiences.\u201d Global Corp\u2019s consumer financing arm offers installment programs covering auto loans, mortgages, education, healthcare, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Paysky to expand to Saudi Arabia:<\/strong> Local digital payment platform Paysky plans to partner with Saudi investors to expand into the Saudi market in 1Q 2025 through its Yalla app, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/10\/08\/1831986\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports citing founder and CEO Waleed Sadek. The app will enable Egyptians in Saudi to send remittances to Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Germany\u2019s PtX Development Fund granted Scatec EUR 30 mn for the plant<\/p>\n","protected":false},"author":1,"featured_media":649429,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,72,1585,183,1382,254,7115,131,807,151,573,6702,7234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam","tag-fertiglobe","tag-fintech","tag-green-ammonia","tag-green-hydrogen","tag-healthcare","tag-manufacturing","tag-paytabs","tag-renewables","tag-scatec","tag-sczone","tag-solar-power","wpautop","entry"],"acf":{"mongo_id":"806c9cb2-eef0-497a-9b53-1578c6b4524c","order":"14","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/668.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Scatec secures German grant for the Egypt Green Hydrogen plant","related_issue":[649403],"teaser":"Germany\u2019s PtX Development Fund granted Scatec EUR 30 mn for the plant","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.13c18f0f-6216-45ca-969f-cd89d8c281ca.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Scatec secures German grant for the Egypt Green Hydrogen plant. PLUS: News from PayTab, CFI, Beltone - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/09\/scatec-secures-german-grant-for-the-egypt-green-hydrogen-plant-plus-news-from-paytab-cfi-beltone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scatec secures German grant for the Egypt Green Hydrogen plant. 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