Cairo – Mubasher: Norwegian company Scatec inked a power purchase agreement with Egypt Aluminum to establish a 1 GW solar plant at a total cost of $750 million.
The Norwegian renewables firm will secure $563 million, representing 75% of the total cost, according to a bourse disclosure.
In the first quarter (Q1) of fiscal year (FY) 2024/2025, Egypt Aluminum recorded 160% year-on-year (YoY) higher net profits after tax at EGP 4.23 billion.
