{"id":662298,"date":"2025-03-13T00:00:00","date_gmt":"2025-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/13\/scatec-and-egyptalum-ink-ppa-for-1-1-gw-solar-project-200-mwh-battery-storage\/"},"modified":"2025-03-13T00:00:00","modified_gmt":"2025-03-13T00:00:00","slug":"scatec-and-egyptalum-ink-ppa-for-1-1-gw-solar-project-200-mwh-battery-storage","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/13\/scatec-and-egyptalum-ink-ppa-for-1-1-gw-solar-project-200-mwh-battery-storage\/","title":{"rendered":"Scatec and EgyptAlum ink PPA for 1.1 GW solar project + 200 MWh battery storage"},"content":{"rendered":"

Hello all you wonderful people, and happy end of the workweek. <\/strong>We have a brisk issue for you today, with all the latest on Scatec and EgyptAlum\u2019s newly signed PPA, the pros and cons of maternity leave policies, and the unlikely benefits of stressing out.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

#1- Scatec inks PPA with EgyptAlum for solar and battery storage project: <\/strong>Scatec has inked a 25-year power purchase agreement (PPA) with EgyptAlum for a 1.1 GW solar plant and 200 MWh battery energy storage system (BESS), according to a statement<\/a> from the Norwegian renewables firm. The project, which is expected to cost some USD 1.1 bn<\/a>, is part of the state-owned aluminum producer\u2019s plan to ramp up production, comply with global sustainability and manufacturing standards, and lower its carbon footprint ahead of the imposition of the EU\u2019s Carbon Border Adjustment Mechanism (CBAM) in 2026.<\/p>\n

We saw this coming:<\/strong> The House in January greenlit<\/a> the Finance Ministry\u2019s guaranteeing of EgyptAlum\u2019s financial commitments with Scatec under the newly signed power purchasing agreement.<\/p>\n

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#2- Elsewedy Electric\u2019s bottom line rose 72.6% y-o-y to EGP 17.5 bn in 2024<\/strong>, according the company\u2019s latest earnings<\/a>release<\/a>(pdf)<\/a>. Revenues for the year also increased by 52.4% y-o-y to EGP 231.98 bn, driven in particular by strong performance in the company\u2019s wires and cables segment and turnkey segments. On a quarterly basis, net income after minority interest grew 105.8% y-o-y to EGP 4.2 bn in 4Q 2024, while the company\u2019s topline rose 54.8% y-o-y to EGP 67.2 bn in the same period.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

It\u2019s a slow day in the int\u2019l press this afternoon<\/strong>, with no one story dominating global headlines. Russia has said that it will not accept<\/a> a temporary ceasefire in its war with Ukraine, with a top aide of Russian President Vladimir Putin saying that the US\u2019 recently proposed 30-day ceasefire plan provides \u201cnothing other than a temporary respite for the Ukrainian military.\u201d Meanwhile, over on the US\u2019 Capitol Hill, top Democrats have said that they will block<\/a> a Republican plan to avert a government shutdown ahead of Friday\u2019s deadline. And finally, a new Reuters\/Ipsos poll<\/a> has found that 53% of Americans believe that increasing tariffs will do more harm than good, with 57% agreeing that Trump\u2019s moves to shake up the economy are too erratic.<\/p>\n

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