Egyptalum, a subsidiary of the Metallurgical Industries Holding Company, has signed an agreement with Scatec to develop a 1GW solar power plant in Nagaa Hammadi. The plant will be built in two phases of 500 MW each over 24 months and include 200 MWh of battery storage. The $650 million project will be financed, built, and operated by Scatec under a Power Purchase Agreement. It will supply electricity to Egyptalum’s aluminum complex and reduce reliance on conventional energy. The agreement followed a meeting between Egypt’s Minister of Public Enterprises and Norway’s Ambassador. The project aimed to cut operational costs, increase production efficiency and improve export competitiveness.