Scatec ASA has been awarded a EUR 30 million grant from the PtX Development Fund to support its Egypt Green Hydrogen project, a key initiative with a total capital expenditure of approximately EUR 500 million.
The PtX Development Fund, established by the German Federal Ministry for Economic Cooperation and Development and KfW, is managed by KGAL and is dedicated to advancing Power-to-X projects in developing and emerging countries. Scatec’s Egypt Green Hydrogen project is the first recipient of a grant from the fund.
“We are honored that our Egypt Green Hydrogen project has been recognized with this EUR 30 million grant from the German government and KfW Group through the PtX Development Fund,” said Terje Pilskog, CEO of Scatec. “This grant reflects the maturity of the project and the wide-ranging support it has garnered, reaffirming its importance in the global energy transition.”
