PM discusses renewable energy projects with SCATEC CEO, focuses on clean fuel transition

CAIRO - 01 May 2024: Prime Minister, Mostafa Madbouly, held a meeting with Terje Pilskog, the CEO of the Norwegian company SCATEC, to discuss a series of renewable energy projects aimed at transitioning towards a clean fuel-based economy.

During the meeting, Mohammed Amer, the Executive Vice President of SCATEC, provided an update on the company's ongoing projects. These projects include the development of a large-scale electricity storage battery system and the generation of 1 gigawatt of solar energy.

The solar energy project will be implemented in two phases and has already secured a cooperation agreement with the Ministry of Electricity. Funding for the project will be sourced from renowned international financial institutions.

Amer also highlighted another project being explored by the company, which involves converting one of Egypt's largest aluminum factories to operate on renewable energy sources. The primary objective of this initiative is to reduce carbon emissions.

The initial phase of the project focuses on constructing a 1 gigawatt solar energy station, enabling the aluminum company to meet 58 percent of its electricity needs independently and reducing its reliance on the national electricity grid.

Additionally, he discussed the company's significant undertaking in establishing a green ammonia project in one of Egypt's northern governorates.

This project aims to produce 150 thousand tons of green ammonia annually, which can be utilized by fertilizer factories. Furthermore, an agreement has been signed to export a portion of the project's production to various European fertilizer factories.

Furthermore, Amer mentioned ongoing negotiations with a major international corporation to establish a factory in the Suez Canal Economic Zone.

This factory would specialize in manufacturing components for electrolyzers used in the production of green hydrogen. A meeting is scheduled in the near future with the international corporation, and they will be invited to visit Egypt to explore potential collaboration opportunities.