Mazghouny & Co has assisted Scatec with the drafting of the memorandum of understanding it has signed during COP27 held in Sharm Elsheikh with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority for the development of a portfolio of up to 5 GW of wind projects. Our team has also assisted the company with the negotiation of the document with the Ministry of Electricity and Renewable Energy acting on behalf of the counterparties.
The signing took place just after Scatec had announced, along with its partners Fertiglobe, Orascom Construction, and The Sovereign Fund of Egypt, the start of the commissioning of the first phase of “Egypt Green Hydrogen”, Africa’s first integrated green hydrogen plant in Ain Sokhna, in Egypt’s Suez Canal Economic Zone (SCZone), in the presence of his Excellency Abdel Fattah El-Sisi, the President of the Arab Republic of Egypt, and his Excellency Jonas Gahr Støre, the Prime Minister of Norway. The project is another testimony to Scatec’s commitment to and presence in Egypt, as one of the company’s main focus markets.
Our team is very proud to have assisted with both projects, as we continue to work closely with Scatec and accompany its team in their development journey in Egypt.
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