Mazghouny & Co has assisted Scatec ASA, the global green energy company, in connection with the review and negotiation of a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for its 1 GW solar with 100 MW/200 MWh battery storage project in Egypt.
The project is expected to be the first hybrid solar PV and battery project in Egypt of this size, and is now ready to finalise the land usufruct and grid connection agreements with the authorities, and the financing structure where Scatec has already signed a mandate letter with several development financing institutions for concessional financing, and to prepare for construction as of the first half of 2025.
Our team has also assisted the company with the structuring and setup of the project company, and the review of the preliminary financing documents signed to-date, as well as the negotiations with the Egyptian Government stakeholders.
