Norwegian renewable energy developer Scatec is preparing to invest up to $5 billion in Egypt over the next two years, reinforcing the North African nation’s position as one of the region’s fastest-growing clean energy hubs.

The planned investment will focus on strategic sectors including solar power, wind energy, battery energy storage systems, green data centres, renewable-powered desalination facilities, and infrastructure supporting the country’s energy transition agenda.

Egypt emerges as a regional green energy hub

The expansion comes as Scatec advances a portfolio already valued at approximately $5 billion in Egypt. Backed by the Norwegian government, the projects reflect growing cooperation between Cairo and Oslo in renewable energy and sustainable development.

At the center of the company’s strategy is the Energy Valley initiative, one of the Middle East and Africa’s largest renewable energy developments.

The portfolio includes 1.75 gigawatts (GW) of solar generation capacity and 4 gigawatt-hours (GWh) of battery storage designed to deliver reliable clean electricity to industries and businesses.

Major solar and wind projects advance

Among Scatec’s flagship projects is the Obelisk Solar and Storage Project in Qena Governorate. The development combines 1.1 GW of solar power with 200 megawatt-hours (MWh) of battery storage capacity.

The first phase, consisting of 500 MW of solar generation and 200 MWh of storage, is already operational, while the second phase is expected to begin service shortly.

The company is also progressing the 900 MW Shadwan Wind Farm in Ras Shukeir, one of Egypt’s largest wind energy developments, alongside the 1,000 MW Dandara Solar Project.

Supporting industry and export competitiveness

The Dandara project includes 200 MWh of battery storage and will supply renewable electricity to Egypt Aluminium, helping the manufacturer strengthen its position in European markets while complying with the European Union’s Carbon Border Adjustment Mechanism (CBAM).

Scatec executives said timely execution remains a priority, describing the projects as critical to Egypt’s efforts to enhance energy security, attract foreign direct investment, and support industrial growth.

Long-Term commitment to Egypt

Prime Minister Mostafa Madbouly welcomed the company’s expansion plans, noting that the projects align with Egypt’s strategy to increase renewable energy’s share of the national energy mix and reduce carbon emissions.

Headquartered in Oslo, Scatec develops, builds, owns and operates renewable energy assets across emerging markets.

Founded in 2007, the company operates and is developing over 6GW of global capacity, positioning itself as a major renewable energy player. It identifies Egypt as a strategic growth market and emerging regional hub for green energy investment, aligning expansion with accelerating clean energy transition across key markets.