Scatec and EDF power solutions have started construction of the 900 MW Shadwan onshore wind project in the Ras Shukeir area of Egypt (Scatec press release, 01/10/2026). According to the announcement, the partners have signed a joint development agreement, under which EDF is expected to acquire a 29% equity stake in the project.
The project represents a total investment of USD716m and is expected to generate approximately 4 TWh/year of electricity once fully operational. The project will be developed in phases, with the first phase expected to enter commercial operation by the end of 2027.
Scatec has secured a USD50m equity bridge loan from The Arab Energy Fund (TAEF) for Shadwan as part of a broader USD150m financing package that also covers the 1,950 MW/3,935 MWh Energy Valley solar-plus-storage project in Egypt.
Additionally, the company has signed mandate letters with development finance institutions for long-term non-recourse financing, with financial close expected before the end of 2026. Scatec will provide EPC, asset management and O&M services for the project.
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