Scatec ASA, based in Oslo, Norway, has announced that its Egypt Green Hydrogen project has 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, managed by KGAL and supported by the German Federal Ministry for Economic Cooperation and Development and KfW, is focused on backing Power-to-X projects in developing nations. This grant, the first of its kind approved by the fund, signifies a significant milestone for Scatec ASA's initiative. CEO Terje Pilskog expressed his satisfaction with the recognition and support, highlighting the project's maturity and credibility. The grant reinforces the viability of the Egypt Green Hydrogen project, adding to its appeal for further investment. Scatec ASA, known for its commitment to renewable energy solutions, operates globally with a substantial renewable energy portfolio. The company's dedication to expanding clean energy capacity aligns with the global goal of transitioning to more sustainable energy sources. The grant not only provides financial assistance but also serves as an endorsement of the project's importance in advancing green hydrogen production in Egypt and beyond. Scatec ASA's ongoing efforts reflect a broader trend of international cooperation in promoting clean energy and fostering sustainable development.