900 MW Shadwan
Wind Power PPA

Mazghouny & Co advised Scatec on the negotiation and execution of a 25-year, USD-denominated power purchase agreement for a 900 MW onshore wind project at Ras Shukeir in the Red Sea Governorate of Egypt. The offtaker is the Egyptian Electricity Transmission Company (EETC), the state-owned entity responsible for purchasing and transmitting electricity across Egypt's national grid.

The Shadwan project sits within Egypt's ambitious Giga Wind programme — a series of large-scale wind developments targeting Egypt's substantial wind resources along the Red Sea coast and the Gulf of Suez. At 900 MW, the project is one of the largest wind power purchase agreements to be signed in Egypt.

The 25-year USD PPA provides the long-term revenue certainty required to attract project finance for a development of this scale. The firm advised on the full suite of PPA terms: tariff structure, dispatch obligations, force majeure, change in law provisions, payment security, government support obligations, and the termination compensation framework.

Context

Egypt has some of the best onshore wind resources in the world — the Suez corridor and Red Sea coast regularly record average wind speeds that make projects here among the most competitive globally on a levelised cost of energy basis. Scatec has been among the most active developers in this region, and the Shadwan project represents a significant addition to their Egypt portfolio.