Scatec, in partnership with EDF Power Solutions, has commenced construction of the 900 MW Shadwan onshore wind project in Egypt. The project has a total capital expenditure of $716 million and is expected to generate around 4 TWh of electricity annually. Additionally, Scatec has signed a 3-year equity bridge loan agreement worth $150 million with The Arab Energy Fund, including $50 million for Shadwan and $100 million for the 1,950 MW solar and 3,935 MWh battery energy storage system Energy Valley project.
Furthermore, Scatec has signed mandate letters with a consortium of development finance institutions for long-term non-recourse project financing. Shadwan will be developed in phases, with the first phase expected to achieve commercial operation by the end of 2027. Scatec will provide engineering, procurement and construction, asset management and operations and maintenance services for the project.
Earlier, in August 2026, Scatec reached commercial operations date for the second phase of the Obelisk solar and battery storage project in Egypt. The second phase of the project adds 564 MW of solar capacity, taking the total project solar capacity to 1.1 GW alongside the 100 MW/200 MWh BESS.