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.
Scatec CEO Terje Pilskog, says :
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”
For more information please visit the PtX Development Fund web site.
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
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Scatec awarded EUR 30 million grant from PtX Development Fund for the Egypt Green Hydrogen project, source
