Red Sea Governor Walid el Barqi said that the Egyptian state places great importance on attracting foreign investment by improving the legislative and regulatory environment, thereby supporting clean energy projects. He stressed the governorate's commitment to providing all necessary facilitation for investors, particularly in strategic projects.
The project's first phase aims to generate 900 megawatts, with direct foreign investment estimated at US$1.2 billion. The governor added that the Egyptian-Norwegian partnership represents a model for cooperation in sustainable development and technology transfer, while also supporting national employment.
He noted that the Shadwan project will create more than 2,500 direct and indirect jobs, with 99% of the workforce to be Egyptian. For his part, Husem asserted his country's commitment to expanding joint projects in the Red Sea governorate, praising the region's geographic and investment advantages.
He said Norway views the Red Sea governorate as one of the most promising areas for renewable energy investment, adding that cooperation between the two countries also extends to community development programs, including women's empowerment initiatives, with the participation of Norwegian companies operating in the Egyptian market.
Scatec officials reviewed the project's implementation progress, explaining that site preparation and infrastructure works are proceeding according to schedule in preparation for turbine installation. Gradual commercial operation will begin between November 2027 and March 2028, while procedures to obtain Egypt's "Golden License" are being finalized.
The Norwegian delegation also reviewed the company's project portfolio in Egypt, which aims to reach a total generating capacity of 5.7 gigawatts from solar and wind power by 2028, in addition to energy storage projects and green ammonia production.