Scatec ASA has secured a €30 million grant from the PtX Development Fund to support its Egypt Green Hydrogen project, which has a total estimated capital expenditure of around €500 million. The PtX Development Fund, managed by KfW and backed by the German government, aims to promote Power-to-X initiatives in developing countries. The CEO of Scatec, Terje Pilskog, expressed satisfaction with the grant, highlighting the project's recognition and support for sustainable energy solutions. The partnership signifies the importance of international cooperation in financing renewable energy projects. The Egypt Green Hydrogen project, utilizing renewable resources like solar and wind, aims to produce green hydrogen for various applications, aligning with global efforts to reduce carbon emissions. The funding not only provides crucial financial support but also emphasizes the potential impact of the project on Egypt's energy landscape and the transition to a low-carbon future.