Scatec ASA's Egypt Green Hydrogen project, based in Oslo, Norway, has secured a significant EUR 30 million grant from the PtX Development Fund for partial financing of the project, which has an estimated total capex of around EUR 500 million. The PtX Development Fund is a collaborative effort by the German Federal Ministry for Economic Cooperation and Development, KfW, and managed by KGAL, focusing on supporting Power-to-X projects in developing nations. This allocation marks the first grant approved by the fund, signifying a milestone for the project. Terje Pilskog, the CEO of Scatec, expresses contentment with the grant, considering it a validation of the project's maturity and garnering broad support. This funding injection highlights the recognition of Scatec ASA's efforts in renewable energy solutions and their commitment to providing clean energy access in emerging markets. Scatec, as a prominent player in the renewable energy sector, is actively involved in developing, constructing, owning, and operating renewable energy plants globally. With a significant capacity of 4.7 GW in operation and under construction across multiple continents, Scatec remains dedicated to expanding its renewable energy portfolio. The company is listed on the Oslo Stock Exchange and showcases a vision of 'Improving our Future' through sustainable energy practices. For more details on the project and the PtX Development Fund, interested parties can visit their respective websites.