Scatec has inked a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for the development of the 900MW Shadwan wind power project.
The wind farm will be located in Ras Shukeir, an area recognized for its exceptional onshore wind conditions. According to Scatec CEO Terje Pilskog, the project reinforces the company’s position as a leading renewable energy provider in Egypt, where it is currently developing four major clean energy projects using various technologies.
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Shadwan wind power project
The Shadwan project is set to undergo comprehensive wind measurement studies, which are expected to conclude by the first quarter of 2026. These assessments will provide vital data to inform the next stages of development. Scatec emphasized that the project highlights the company’s commitment to supporting Egypt’s renewable energy targets, as well as the dedication and expertise of its local team in bringing the initiative to fruition.
In a related development, Scatec has secured US $479.1M in non-recourse project financing for its 1.1GW Obelisk solar and battery storage project in the Nagaa Hammadi region of Egypt. The funding, which represents 80% of the project’s estimated US $590M capital expenditure, is being provided by the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII). The project will be delivered in two phases and is among the largest of its kind in the region.
The first phase includes the construction of 561MW of solar capacity alongside a 100MW/200MWh battery energy storage system, with operations expected to begin in the first half of 2026. The second phase will add an additional 564MW of solar capacity and is scheduled for completion in the latter half of the year. Electricity generated from both phases will be sold to the EETC under a 25-year PPA. Scatec has also secured equity bridge loans totaling US $120M to support project execution.
