Terje Pilsog, CEO of Norwegian renewables developer Scatec says that his firm is close to taking FID on its two “very large and mature” projects in Egypt – ‘Egypt Green’ hydrogen and 1GW/200MWh Obelisk solar/storage. On both, “we’re working on finalizing some small remaining development activities… the financing process, as well as preparing to start construction with finalizing the design and ensuring that we have the contractors in place,” Mr Pilsog told his firm’s Q4 earnings call on 31 January.
‘Egypt Green’ is on track for FID in 1H 2025, Mr Pilsog says. With UAE state partner Fertiglobe guaranteeing to take 100% of the offtake for green ammonia production and this underpinned by a sales deal to Germany for the first seven years of output (MEES, 19 July 2024), “the remaining part to get it to financial close is putting together the financing and finalizing the engineering,” he says. He adds that the electrolyzer provider has already been selected whilst declining to reveal the awardee. (CONTINUED - 393 WORDS)
