Scatec will receive a grant worth €30m ($33m) to partially finance its planned Egyptian green hydrogen project worth €500m ($549m).
The Norwegian firm agreed on the financing with the PtX Development Fund, which was established by the German Federal Ministry for Economic Cooperation and Development and KfW and managed by KGAL. This represents the first grant approved by the fund.
Scatec plans to develop, build, own and operate renewable energy projects across four continents, with 4.7GW in operation and under construction, according to the company’s statement.
... to continue reading you must be subscribed
