Scatec ASA's Egypt Green Hydrogen project in Oslo has received a significant boost with the signing of an agreement for a EUR 30 million grant from the PtX Development Fund. This grant, provided by the German government and KfW Group, will support the partial financing of the project, which has a total capex of approximately EUR 500 million. The PtX Development Fund, managed by KGAL, focuses on backing Power-to-X projects in developing and emerging countries. This grant marks the fund's first approval and signifies the recognition of the Egypt Green Hydrogen project's potential. Scatec CEO Terje Pilskog expressed satisfaction with the grant, highlighting it as a testament to the project's maturity and the widespread support it has garnered. This financial boost is expected to propel the project forward and contribute to its success. The PtX Development Fund's objective aligns with the vision of Scatec ASA, a company dedicated to providing renewable energy solutions globally. Scatec ASA, headquartered in Oslo, Norway, is renowned for its commitment to developing, building, and operating renewable energy plants across multiple continents. With 4.7 GW of renewable energy capacity in operation and under construction, the company plays a pivotal role in advancing access to clean and affordable energy. The grant from the PtX Development Fund reinforces the confidence in the Egypt Green Hydrogen project and underscores the importance of international cooperation in promoting sustainable energy initiatives.