Category: 3. Business

  • Texas-based Shiner releases non-alcoholic version of its flagship beer – Houston Public Media

    Shiner Bock non-alcoholic
    Shiner Bock non-alcoholic (Courtesy | Shiner Beer)

    A new year often marks the start of Dry January for many.

    Texas-based Shiner Beer announced a new non-alcoholic version of its flagship Shiner Bock is hitting the shelves at retailers across the United States this month.

    The brew contains less than .05% Alcohol by Volume (ABV) and will come in 12-ounce cans. The packaging will retain the signature yellow look as the original Shiner Bock, but will feature a distinct blue and silver “non-alcoholic” banner.

    Shiner first rolled out a non-alcoholic beer series in 2023.

    More businesses across the U.S. have launched non-alcoholic beer, wine and spirits over the last several years as more people try to limit their drinking. Some research indicates that Generation Z is drinking less alcohol than previous generations.

    “We’re seeing a generational shift in how people enjoy beer,” said Nick Weiland, brand director of Shiner Beer in a press release. “Long-time fans and new drinkers alike can enjoy the ritual of an ice-cold Shiner, regardless of alcohol content.”

    Beverage alcohol data tracker IWSR found non-alcoholic beverages displayed strong sales growth in 2024, with no-alcohol beer volume up around 9% that same year.

    Continue Reading

  • ‘I was stunned’: Verner couple win $1M in HSN 50/50 draw

    ‘I was stunned’: Verner couple win $1M in HSN 50/50 draw

    December’s HSN 50/50 take-home grand prize of $1,041,848 has been won by Dale and Thérèse Ackerland of Verner.

    “I was out grabbing a coffee at my brother’s house when my phone rang and I got the news,” said Dale, in a press release. “I was stunned, I think my brother realized I had won before I did!”

    “When he got home, he handed me a piece of paper with the jackpot amount on it and said ‘We got a call’,” said Thérèse. “ I never imagined it was something like this.”

    The two have been playing the HSN 50/50 since the summer of 2020 and always considered it a way to contribute to a cause they feel is important.

    “Whether you win or lose with these 50/50s, it doesn’t really matter because you know where the money is going and that it makes a difference,” said Dale. “Health care is only getting more important, especially as we age.”

    You can watch an excerpt of the HSN Foundation’s call to the couple as well as footage from their visit to HSN in this video.

    Proceeds of the HSN 50/50 support priority medical equipment purchases, cutting-edge medical research, and the future health care needs of Northeastern Ontario through Health Sciences North Foundation.

    Proceeds from the HSN 50/50 have been used to purchase equipment for the Pediatric Step-Up Unit (PSUU) at Health Sciences North.

    This specialized unit, located in the NEO Kids and Family Program Pediatric Unit at HSN, is essential for children who require more than standard acute care, but not intensive care.

    These young patients often rely on continuous monitoring, breathing support, and around-the-clock attention – care that was only available outside the region before the PSUU was made possible through donor and lottery player support.

    “The Pediatric Step-Up Unit has transformed the way we care for children in Northeastern Ontario,” says Dr. Sean Murray, pediatrician at HSN.

    “Before it opened, many of our sickest patients had to be transferred hours away to receive the level of care they needed. Now, we can provide that care here, surrounded by their families and support systems. The PSUU has also strengthened our relationship with hospitals like SickKids, allowing our team to benefit from their expertise, training, and ongoing collaboration.

    “This not only improves patient outcomes but also enhances our ability to deliver specialized pediatric care in the North. The PSUU exists because of community generosity. Philanthropy has turned an urgent need into a reality, and it’s making a life-changing difference for our patients every day.”

    January’s HSN 50/50 is a short and sweet draw that’s encouraging players to put their best foot forward to kick off 2026! This month’s three-week draw features two $15,000 early bird prizes, and a monthly grand prize of half of the ticket sales taking place on Jan. 30.

    The jackpot is updated online in real-time and continues to grow as more people buy tickets. Each month, half of the total ticket sales support priority equipment purchases, funding leading edge research, and supporting the future healthcare needs of Sudburians and residents of Northeastern Ontario – the other half goes to one lucky winner.

    Residents across Ontario over the age of 18 can purchase tickets for a chance to win. Tickets for the January draw are available to purchase right now, with sales ending at 11:59 p.m. Jan. 29. The grand prize winning ticket will be drawn on Friday, Jan. 30, 2026 at 10:00 a.m. and posted online at www.hsn5050.ca.

    Continue Reading

  • Lawmakers are preparing to try again on major bill. What can happen next

    Lawmakers are preparing to try again on major bill. What can happen next

    The US Capitol in Washington, DC, US, on Thursday, Dec. 11, 2025.

    Daniel Heuer | Bloomberg | Getty Images

    Lawmakers this week plan to revisit efforts to pass a market structure bill that will determine the crypto industry’s future in the U.S. — reviving legislative efforts that stagnated last year.

    On Thursday, the Senate Agriculture and Banking Committees are expected to hold hearings on their respective parts of the crypto bill, where they might revise the text. This will lay the groundwork for establishing legislative guardrails for digital assets in the U.S. — a potential watershed moment for the crypto industry.

    This is what you need to know about the market structure bill and efforts to pass it.

    The bill’s objective

    The so-called Clarity Act aims to provide legislative guardrails for the multitrillion-dollar crypto market and big digital asset firms — which could accelerate the adoption of blockchain technology and crypto in the U.S.

    It seeks to clarify the Securities and Exchange Commission’s and Commodities Futures Trading Commission’s roles in regulating cryptocurrencies, in addition to creating more well-defined token classifications. It also aims to outline registration and compliance standards for a wide range of crypto brokerages, exchanges and other entities, enabling them to operate more easily in the U.S.

    Those guardrails could help the U.S. court more digital assets companies to set up shop stateside, stimulating the economy and boosting the crypto market, according to Summer Mersinger, CEO of crypto trade group Blockchain Association.

    “We’ve seen this massive movement of companies and activity back on shore because there is a friendly administration to crypto,” Mersinger said. But, without a market structure law, “that could all go away, especially if there’s a change to an unfriendly administration.”

    That said, the bill’s implications for digital asset companies, crypto holders and other investors won’t be 100% clear until the draft legislation’s language is finalized. 

    What’s happening this week

    Lawmakers will attempt to hash out three key issues this week: stablecoin-linked rewards; the treatment of decentralized finance platforms and their developers; and the matter of blocking elected officials such as President Donald Trump from profiting off of crypto ventures. Trump-affiliated entities have launched both a memecoin and nonfungible token in the past.

    The stablecoin issue is “the biggest outstanding issue” for negotiations on the Hill, said Cody Carbone, CEO of crypto trade association Digital Chamber.

    “Stablecoin rewards, interest, yields, whatever you want to call it, will be addressed in the bill,” Carbone said. “Both Republicans and Democrats have come to that conclusion.”

    In early January, the American Bankers Association’s Community Bankers Council wrote to Senate members, asking them to prevent stablecoin issuer affiliates from offering rewards to customers. The stablecoin products, they said, exploit a loophole in the stablecoin-centric Genius Act passed last year that prohibits dollar-pegged tokens that offer yields to holders — which pose an attractive alternative to high-yield savings accounts and other traditional products. 

    On the DeFi front, crypto advocates are fighting to ensure developers do not face prosecution when their technology is used for illicit activities like money laundering.

    “We’re very conscious of how illicit finance is treated in the bill… but we need to make sure that there are not obligations put on codes instead of person, or make sure that there isn’t some inadvertent way that the technology is burdened in a way that it can’t comply,” DeFi Education Fund chief legal officer Amanda Tuminelli told CNBC. 

    DeFi advocates also want to ensure the market structure bill contains language allowing individuals to self-custody their crypto. In addition, they want provisions from the Blockchain Regulatory Certainty Act that call for software developers and blockchain service providers who do not control or custody customer funds to be exempt from registering as money-transmitting businesses. 

    Finally, some lawmakers like Sen. Elizabeth Warren (D-Mass.) want to prevent public officials from profiting off of digital asset ventures while they serve.

    “ It’s a really hard issue,” Mersinger said. “They ended up kind of punting [on] it in the House because it was really difficult to put on the bill. A lot of Senate Democrats have said, ‘We’re not going to punt on this issue.’” 

    ‘Key window’

    The Senate Agriculture and Banking Committees are expected to put out new drafts of the market structure bill, with the aim of discussing and revising details of the proposed legislation Thursday at markup, according to Mersinger. 

    Later, they will join the two documents to create one big crypto bill. That draft will go to the Senate floor, where discussions could take several weeks, before potentially making its way through the rest of the lawmaking process to become law.

    Crypto proponents want to see the bill passed before the 2026 midterm elections in case some of the industry’s allies are unseated in November and to avoid losing momentum on the Hill, Mersinger told CNBC. 

    “There’s a lot of other priorities Congress has on the books for this year, and so this is kind of the key window that they see to get something to move out of committee onto the floor and have the time that’s needed to get it done,” Mersinger said. 

    Continue Reading

  • Illegal drugs advertised on social media; more airline competition taking off: CBC Marketplace cheat sheet

    Illegal drugs advertised on social media; more airline competition taking off: CBC Marketplace cheat sheet

    Miss something this week? Don’t panic. The CBC’s Marketplace rounds up the consumer and health news you need.

    Want this in your inbox? Get the Marketplace newsletter every Friday.

    We’re back!

    Good morning. This is Bobby Hristova.

    We’re back to give you consumer news, tips and insider info to help you save cash and stay healthy.

    Next Friday, we’ll be back on air with a new episode about lab diamonds.

    They look identical to natural diamonds, but are lab diamonds changing the jewelry game or just the price tag? We reveal what’s really behind that sparkle. Plus, does the product match the promise? We’re testing fast-food marketing from popular restaurants to find out which chains come up short.

    You can watch on Jan. 16 and 8 p.m. local time and 8:30 p.m. in Newfoundland and Labrador on CBC-TV and CBC Gem.

    ‘It’s like on Amazon’: Illegal drugs advertised online, delivered by Canada Post

    WATCH | Websites are selling illegal drugs online. Here’s why it’s so hard to stop them:

    Websites are selling illegal drugs online. Here’s why it’s so hard to stop them

    Advertisements on popular social media platforms are promoting illegal drugs for sale online, then shipping them through Canada Post. The problem, experts say, is much bigger than a few ads, or stopping some parcels.

    It’s like Amazon for hard drugs: cocaine, heroin and ecstasy, paid for with credit cards and e-transfers, delivered by Canada Post.

    For weeks, CBC Ottawa and Radio-Canada exchanged messages with nearly a dozen people who have been buying these drugs online. Eventually one came forward, offering to talk about their experience.

    “The first time I was like, ‘OK, it’s not true, it’s a scam,’” John said. CBC News has agreed to withhold his real name because he fears the impact of his drug use on his family and his job.

    “You go on the website and it’s very easy.”

    We started seeing ads offering pure cocaine pop up on Facebook and Instagram, with images of white powder. Pretty soon our social media feeds were flooded with them.

    These narcotics are highly addictive and highly illegal, but the ads claim the drugs are tested and safely delivered.

    The drug ads appear on social media platforms including Instagram and Facebook, owned by parent company Meta, which makes more than 90 per cent of its profits from advertising.

    Meta refused an interview request from the CBC. Instead, a spokesperson responded with an email.

    “Content that attempts to buy, sell or trade illicit drugs is not allowed on our platforms. We have removed the flagged ads and pages, disabled the ad accounts, and restricted the account admins from running ads in the future,” the spokesperson wrote.

    Meta says it uses AI and specialized consultants to flag and stop the ads. LegitScript is one company that specializes in flagging ads that sell illegal content online.

    Canada Post also refused requests for an in-person interview, and instead sent the CBC a statement.

    “When our postal inspectors confirm that an item contains an illegal drug, they remove the item from the mail stream and turn it over to the police,” the Crown corporation wrote.

    CBC News reached out to the RCMP over several weeks. Canada’s national police force refused our repeated requests for an interview, but a spokesperson replied in an email.

    “Through co-ordinated investigations, advanced cyber tools, and strong partnerships … we are actively targeting individuals and networks profiting from the sale of illicit substances online,” the spokesperson wrote.

    Read more from the CBC’s Omar Dabaghi-Pacheco and Ryan Garland.

    Viral video on WestJet plane sparks debate over passenger legroom, calls for more regulation

    WATCH | WestJet goes viral over new, tightly configured seating plans:

    Viral video sparks WestJet legroom complaints

    An Alberta family is speaking out after a video showing them struggling to sit in a tight new WestJet seating arrangement went viral. The airline is facing criticism for putting profits before people with the tightly configured, non-reclining seats.

    A viral video showing an Alberta family’s tight squeeze on a recent WestJet flight is prompting conversations about passenger legroom on Canadian airlines and whether the federal government needs to get involved.

    On Dec. 26, 2025, Amanda Schmidt, her mother and her father were flying on WestJet from Edmonton to Toronto, en route to the Dominican Republic.

    The family bought ultra-basic economy seats, which were non-reclining, and found their seating circumstances quite cramped.

    A video posted to TikTok by Amanda shows her father, Manfred Schmidt, who is 6’3″ and approximately 220 pounds, appearing uncomfortable in his seat.

    “I could not get into the seat. I mean, I tried to get my knees in front of me … I’m a little bit taller than normal, maybe, but not a lot,” Manfred said.

    “It was going to be like a four-hour flight. I was concerned about, OK, well, what are we gonna do? I mean, you can’t recline, you can’t move. You’re jammed in there like a sardine.”

    Manfred said flight attendants later allowed him to sit in a seat with more legroom, but Amanda wants to see some accountability from the airline.

    “It’s inhumane, basically, to make people travel like this, and then also that it is a health and safety concern,” she said. “When you buy a seat for a human, you should be able to expect it to fit a human safely.”

    WestJet declined an interview request, but said in an email to CBC News that the airplane in the video is “one of our newly reconfigured aircraft.”

    The airline said it is trying to make air travel available to more Canadians by trying new products, such as aircraft that accommodate an extra row by changing seat pitch, which is the distance between the back of a seat, to the back of the seat in front of it, thereby reducing legroom for passengers.

    Some rows on certain WestJet aircraft have a 28-inch pitch (about 71 centimetres). According to John Gradek, an aviation expert at McGill University, a 30-inch pitch (about 76 centimetres) is typical in the Canadian airline industry.

    Read more from the CBC’s Julia Wong.

    Canadian airlines could be forced to ‘up their game’ as Ottawa allows more competition from Middle East

    WATCH | Eased restrictions on Middle East flights puts pressure on Canadian airlines:

    Eased restrictions on Middle East flights puts pressure on Canadian airlines

    As the federal government eases restrictions on the amount of flights from the Middle East, experts say Canadian airlines may face pressure to upgrade their planes and service level to stay competitive.

    Airlines in Canada could soon be under pressure from customers to improve their services as the federal government opens its skies to more competition from the Middle East.

    Ottawa is loosening restrictions on the number of flights coming from Saudi Arabia and the United Arab Emirates after past diplomatic spats had limited flights.

    Aviation expert John Gradek said airlines from the Middle East are considered the “envy of the world” because of the services they offer, which will force Canadian airlines to do more if they want to go head-to-head with these foreign carriers.

    “Canadian carriers are going to have to up the ante and up their game to be able to compete,” said Gradek, who is a lecturer of aviation management at McGill University in Montreal.

    “It’ll push Air Canada, it’ll push WestJet and may push our friends over at Air Transat to kind of look at the service level they’re offering on board the airplane, and the amenities and actual configuration of the airplanes.”

    Canadian MPs and senators, through parliamentary committees, have studied a series of issues hitting Canada’s airline industry in recent years, including a lack of competition, high fares, accessibility complaints and passengers’ rights.

    Some airlines, like Emirates, are famous for their first-class seats. Videos created by YouTubers and influencers have garnered millions of views showing off Emirates’ caviar meals, fancy sleeping pods and showers onboard.

    Read more from the CBC’s Ashley Burke.


    What else is going on?

    Quebec Superior Court approves class action against Ticketmaster over service fees

    Law firm says pricing scheme is abusive, with fees based on ticket prices rather than actual cost of service

    Nestlé recall of some baby formulas does not apply to Canadian products, company says

    Nestlé voluntarily recalled the formula — mostly in Europe — due to potential contamination

    Cheaper obesity medications could come to Canada this summer, as Health Canada reviews generics

    Having generics that might significantly reduce the price is welcome, obesity physician says

    Why car costs keep going up, and what it might take to bring them back down

    The average price of buying a car has increased by more than 40 per cent since 2018

    Warner Bros. rejects revised Paramount bid, tells shareholders to stay with Netflix

    Warner Bros. board says offer hinges on ‘extraordinary amount of debt financing’


    Marketplace needs your help!

    A woman on a phone.

    Have you complained to the consumer protection office in your province or territory? If so, we want to know how it went. Email us at marketplace@cbc.ca.

    A man on a phone

    Are you planning on calling customer service for your cell, cable or internet provider? Or are you looking to cancel your service? Before you do, Marketplace wants to hear from you! Email us at marketplace@cbc.ca.

    Catch up on past episodes of Marketplace on CBC Gem.

    Continue Reading

  • Jaecoo J5 Official Price in Pakistan Revealed

    Jaecoo J5 Official Price in Pakistan Revealed

    Nexgen Auto has announced the official ex-factory introductory prices of the JAECOO J5 SHS HEV, expanding its hybrid SUV lineup in Pakistan.

    According to the company, the JAECOO J5 SHS HEV Comfort has been priced at Rs. 6,699,000, while the JAECOO J5 SHS HEV Premium carries a price tag of Rs. 7,699,000. Nexgen said the introductory prices will remain valid until March 10, 2026.

    The JAECOO J5 will be offered in two variants. The top-spec version comes equipped with a 1.5-liter turbocharged hybrid engine producing 221 horsepower and 295 Nm of torque, paired with a front-wheel-drive system.

    The vehicle accelerates from 0 to 100 km/h in 7.9 seconds and features a 1.83 kWh hybrid battery, with a claimed fuel economy of 18.8 km per liter. In terms of size, the J5 measures 4,380 mm in length, 1,860 mm in width, and 1,650 mm in height, with a 2,620 mm wheelbase.

    The top-spec variant includes an 18-inch alloy wheel setup, dual-zone climate control, and a panoramic sunroof. Inside, the vehicle offers a 13.2-inch touchscreen infotainment system, an 8-inch digital instrument cluster, and an eight-speaker audio system.

    Safety features include six airbags, advanced driver assistance systems (ADAS), and a 540-degree camera. Additional features include ventilated front seats, wireless charging, acoustic glass, heated side mirrors, anti-pinch windows, and Type-C charging ports.


    Continue Reading

  • Record-high electricity production in Finland: Exports continue despite peak demand | Yle News

    Record-high electricity production in Finland: Exports continue despite peak demand | Yle News

    “Electricity consumption is high and we are still exporting – that’s a new thing during a time of peak consumption,” said the CEO of Finnish Energy.

    Power lines in Liminka, near Oulu (file photo). Image: Esko Jämsä / AOP

    Finland’s electricity production set a new record on Saturday evening, according to Jukka Leskelä, Managing Director of the industry group Finnish Energy. In a social media post, he said that generation reached 15,438 megawatts (MW) between 6 and 6:15pm.

    According to Leskelä, brisk winds have boosted electricity production even though the demand for electricity is near the all-time due to severe cold through most of the country.

    “Electricity consumption is high and we are still exporting – [that’s] a new thing during a time of peak consumption,” Leskelä wrote.

    According to the transmission grid company Fingrid, Finland reached its all-time electricity consumption record this week, as usage spiked to 15,553 MW on Thursday evening – just before the country registered its coldest temperature for this winter: -42.8 degrees Celsius.

    Fingrid suggested that while demand was driven up by the freezing temperatures, moderate electricity prices also contributed to the record as consumers did not hold back on consumption for fear of high utility bills.

    On Sunday afternoon, Finland narrowly remained a net exporter of electricity, according to Fingrid, with production and consumption both around 13,000. The average spot price remained moderate at about 11.80 cents per kilowatt-hour.

    Two years ago, the country briefly recorded its highest-ever spot price of 2.35 euros per kilowatt-hour on 5 January 2024.

    Last year, consumers in Finland enjoyed the third-cheapest electricity in Europe.

    In the first nine months of last year, total electricity consumption in Finland rose by one percent from the corresponding period of 2024. However, overall energy consumption in January to September fell by the same margin, with consumption of fossil fuels and peat dropping by nine percent.

    Last year, close to half of all energy consumption was provided by renewable energy sources.

    In 2025, just over 1,000 megawatts (MW) of new wind power capacity was installed, increasing the total capacity to almost 9,500 MW. Meanwhile industrial solar power capacity more than doubled to 352 MW.

    In 2024, 95 percent of Finland’s electricity production was based on fossil-free energy, according to Statistics Finland. Wind power overtook hydropower as the second biggest mode of electricity production, covering 37 percent of consumption – just behind nuclear power’s 38 percent.

    Continue Reading

  • New Phase III study results support self-administered Saphnelo as an effective treatment option for systemic lupus erythematosus

    New Phase III study results support self-administered Saphnelo as an effective treatment option for systemic lupus erythematosus

    AstraZeneca reported positive results from a Phase III TULIP-SC clinical trial, showing a statistically significant and clinically meaningful reduction in disease activity with the subcutaneous (SC), self-administration of Saphnelo (anifrolumab) in adults with systemic lupus erythematosus (SLE). The safety profile observed with SC Saphnelo was consistent with the known clinical profile of Saphnelo administered as an intravenous infusion.

    In the 52-week study, 56.2% of study participants receiving Saphnelo experienced a significant reduction in lupus disease activity at week 52 compared to 37.1% of participants who received the placebo. Results were measured by the British Isles Lupus Assessment Group-based Composite Lupus Assessment (BICLA). In pre-specified secondary and exploratory endpoints, 29.0% of participants taking Saphnelo achieved remission and 40.1% achieved low disease activity by week 52. SC Saphnelo was well tolerated, with the frequency of overall adverse events balanced between the Saphnelo and placebo groups, SC Saphnelo is approved in the European Union and is under regulatory review in other countries, including the United States and Japan.

    Continue to follow the Lupus Foundation of America for updates on lupus drug developments. Learn more about Saphnelo.

    Read the announcement

    Continue Reading

  • Instagram password reset emails: Company issues clarification on ‘hacking’ of 17.5 million user data, say – Times of India

    Instagram password reset emails: Company issues clarification on ‘hacking’ of 17.5 million user data, say – Times of India

    1. Instagram password reset emails: Company issues clarification on ‘hacking’ of 17.5 million user data, say  Times of India
    2. Instagram addresess data breach claims after millions reportedly impacted by password reset emails  The Express Tribune
    3. Are Instagram password reset emails a phishing attack? How to protect yours  Jang
    4. Malwarebytes Confirms 17.5 Million Instagram Accounts Data Leak  mezha.net
    5. Instagram hit by major security flaw; data of 1.75 crore users leaked  Kerala Kaumudi

    Continue Reading

  • Most Swiss political parties object to proposal to tax electric vehicles

    Most Swiss political parties object to proposal to tax electric vehicles


    The right-wing Swiss People’s Party opposes taxing motorists to the benefit of public finances.


    Keystone-SDA

    The Swiss government’s proposal to impose a new tax on electric vehicles by 2030 is causing an uproar. The political parties, the Transport and Environment Association and the Touring Club of Switzerland (TCS) are all calling for changes or to reject the proposal.

    +Get the most important news from Switzerland in your inbox

    The consultation period on the proposed tax ended on Friday. The government is proposing two alternatives. One is to tax the number of kilometres travelled, taking into account the weight of the vehicle. The other involves a tax on the electricity used, irrespective of the type of vehicle.

    The right-wing Swiss People’s Party rejects the proposal outright, and is particularly opposed to taxing motorists to the benefit of public finances.

    + Electric car sales slowing down in Switzerland

    The centre-right Radical-Liberals propose that the government apply an alternative transitional solution and work towards a viable and fair reform of the taxation of electric vehicles in the long term.

    The centre-left Liberal Greens reject the tax, while the left-wing Green Party welcomes it.

    The Transport and Environment Association wants such a tax to come into force in 2035 at the earliest. Finally, the TCS is calling for a gradual approach.

    Translated from French with AI/gw

    We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews the translation for clarity and accuracy before publication.  

    Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.

    If you have any questions about how we work, write to us at english@swissinfo.ch.

    Continue Reading

  • Scatec signs landmark PPA in Egypt for 1.95 GW Solar and 3.9 GWh BESS capacity

    Scatec signs landmark PPA in Egypt for 1.95 GW Solar and 3.9 GWh BESS capacity

    Oslo/Cairo, 11 January 2026: Scatec ASA, a leading renewable energy solutions provider, has signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a total capacity of 1.95 GW Solar and 3.9 GWh Battery Energy Storage Systems (BESS) in Egypt.

    Under the agreement Scatec will deliver one integrated Solar and BESS hybrid system designed to deliver continuous, around-the-clock renewable baseload power. In addition, Scatec will develop two standalone BESS projects aimed at providing essential grid stability and support services. The combined capacity will be the largest solar and BESS installation in Africa and the largest investment in Scatec’s history.

    “Signing this groundbreaking PPA further cements Scatec’s leading position and commitment to delivering reliable, renewable energy at a large scale in Africa. By integrating advanced solar and battery technologies, we are providing Egypt with sustainable, around-the-clock power and grid stabilising services, supporting both the country’s energy transition and the region’s long-term economic development,” says Scatec CEO Terje Pilskog.

    Scatec will be compensated under a 25-year, USD-denominated pay-as-produced Power Purchase Agreement (PPA), linked to the electricity generated by the hybrid system. The plant is expected to deliver approximately 6,000 GWh of renewable energy annually.

    Scatec will provide Engineering, Procurement and Construction (EPC), Asset Management (AM) and Operations & Maintenance (O&M) services for the projects. By leveraging its proven expertise from similar large-scale hybrid and BESS projects, Scatec will ensure efficient delivery and management through all phases of the project.

    Scatec is the lead developer of the projects and will invite additional equity partners. Further details on capital expenditure, EPC scope and financing structure will be disclosed at financial close, which is expected in the second half of 2026.

    For further information, please contact:
    For analysts and investors:
    Andreas Austrell, SVP IR
    andreas.austrell@scatec.com
    +47 974 38 686

    For media:
    Meera Bhatia, SVP External Affairs & Communications
    meera.bhatia@scatec.com
    +47 468 44 959

    About Scatec 

    Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    Continue Reading