Scatec awarded EUR 30 million grant from PtX Development Fund for the Egypt Green Hydrogen project
October 08 2024 - 4:39AM
UK Regulatory
Scatec awarded EUR 30 million grant from PtX Development Fund for
the Egypt Green Hydrogen project
Oslo, 8 October 2024: Scatec
ASA’s Egypt Green Hydrogen project has today signed an agreement
with the PtX Development Fund for a grant of EUR 30 million for
partial financing of the project which will have a total capex of
approximately EUR 500 million.
The PtX Development Fund is established by the
German Federal Ministry for Economic Cooperation and Development
and KfW, and managed by KGAL, with the aim to support Power-to-X
projects in developing and emerging countries. This is the first
grant approved by the fund.
“We are pleased that our Egypt Green Hydrogen
project has been recognised with this EUR 30 million grant from the
German government and KfW Group through the PtX Development Fund.
This achievement is a testament to the maturity of the project and
reaffirms the broad support we have for this project," says Scatec
CEO Terje Pilskog.
For more information please visit the PtX
Development Fund web site: Welcome – Power-to-X Development
Fund (ptx-fund.com)
For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, phone: +47 974
38 686,
andreas.austrell@scatec.com
For media: Meera Bhatia, SVP External Affairs & Communications,
phone: +47 468 44 959, meera.bhatia@scatec.com
About Scatec
Scatec is a leading renewable energy solutions provider,
accelerating access to reliable and affordable clean energy
emerging markets. As a long-term player, we develop, build, own,
and operate renewable energy plants, with 4.7 GW in operation and
under construction across four continents today. We are committed
to grow our renewable energy capacity, delivered by our passionate
employees and partners who are driven by a common vision of
‘Improving our Future’. Scatec is headquartered in Oslo, Norway and
listed on the Oslo Stock Exchange under the ticker symbol
‘SCATC’. To learn more, visit www.scatec.com or
connect with us on LinkedIn.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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