Scatec ASA, a renewable energy company based in Oslo, Norway, has announced that its Egypt Green Hydrogen project has successfully secured a EUR 30 million grant from the PtX Development Fund. The fund, established by the German Federal Ministry for Economic Cooperation and Development and KfW and managed by KGAL, focuses on supporting Power-to-X projects in developing and emerging countries. This grant, the first approved by the fund, will provide partial financing for Scatec ASA's project, which has an estimated total capex of EUR 500 million. In response to this achievement, Scatec CEO Terje Pilskog expressed delight and stated that the grant serves as recognition of the project's maturity and the widespread support it has garnered. This funding injection will undoubtedly play a crucial role in advancing the Egypt Green Hydrogen project, further solidifying its position in the renewable energy landscape. The project's focus on green hydrogen production aligns with the global sustainability goals and signifies a significant step towards a cleaner energy future. For further details on the project and the PtX Development Fund, interested parties are encouraged to visit the fund's website. For specific inquiries, individuals can reach out to Scatec ASA's representatives Andreas Austrell for investor relations and Meera Bhatia for media and external affairs.