Scatec ASA, based in Oslo, Norway, has announced that its Egypt Green Hydrogen project successfully secured a 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 between the German Federal Ministry for Economic Cooperation and Development, KfW, and KGAL, aimed at supporting Power-to-X projects in developing and emerging countries. This grant marks the first of its kind approved by the fund. The CEO of Scatec, Terje Pilskog, expressed delight in the recognition and support received for the Egypt Green Hydrogen project through this significant grant. The PtX Development Fund's backing underscores the project's maturity and potential impact. Scatec ASA, a prominent player in renewable energy solutions, focuses on providing access to reliable and affordable clean energy in emerging markets. With 4.7 GW of renewable energy plants already in operation or under construction across four continents, the company is dedicated to further expanding its capacity. This recent financial boost will undoubtedly aid in advancing the Egypt Green Hydrogen project, aligning with Scatec's commitment to enhancing sustainable energy access globally.