As stated by the EIB, he project concerns the construction and operation of a 1.1 GWp solar photovoltaic (PV) plant with a co-located 50 MW/200 MWh battery energy storage system (BESS) located in Qena, Egypt.

The aim is to increase the production and storage of electricity from low-carbon sources (solar PV) and to address negative climate and environmental externalities -- a market failure -- through the reduction of carbon dioxide emissions and air pollution.

The project contributes to Egypt's Vision 2030 and Integrated Sustainable Energy Strategy (ISES) 2035, supporting the country's commitment to achieve 42% of electricity generation from renewable sources by 2030.

The project is expected to rely on a long-term corporate power purchase agreement (PPA) with Misr Aluminium Company (EgyptAlum) as the offtaker.

Information on the investment amount was not provided at the time of disclosure.

As stated by Bloomberg, Scatec ASA operates as an energy company. The Company develops, builds, owns, operates and maintains solar, hydro, and wind power plants that generate clean and reliable electricity. Scatec serves customers worldwide.

As stated by Forbes, Egyptalum is the sole primary aluminium manufacturer in Egypt and among the largest producers in North Africa. It sold 295,000 tonnes of aluminium during the fiscal year 2024/25 for $870 million. In September 2025, it also signed an MoU with Aluminium Bahrain (Alba) to evaluate the feasibility of building a $3 billion alumina refinery in Egypt. In January 2026, it unveiled a $1.3 billion investment plan across two projects aimed at boosting capacity by 300,000 tonnes per year and launching aluminium foil production.

No project contacts provided at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces