EBRD, AFDB and BII support pioneering solar and battery storage project
The integration of battery storage with solar PV is a game-changer for Egypt''s energy sector, providing reliable and dispatchable renewable energy and reducing reliance on
Scatec reaches financial close for the 1.1GW solar
Oslo/Cairo, 15 June 2025: Scatec ASA has reached financial close for the "Obelisk" hybrid solar and battery storage project in Egypt. The non-recourse project financing comprises USD 479.1
EBRD backs Egypt''s first solar-battery hybrid plant with $30mn loan
The financing will go to Obelisk Solar Power, a special purpose vehicle owned by Norwegian renewables developer Scatec ASA, and will help fund the construction of a 1
Scatec Secures Financing for Groundbreaking Hybrid
The energy generated will be sold under a long-term agreement with the Egyptian Electricity Transmission Company, ensuring a robust economic framework for sustainability. Conclusion: The successful financing and
Scatec Reaches Egypt''s Obelisk Hybrid Solar and BESS Project
The funds from this Obelisk Hybrid Solar and BESS Project Financial Close be provided will be utilized in the development of a 1.1 GW solar photovoltaic (PV) power plant
African Development Bank, British International Investment and
The integration of battery storage with solar PV is a game-changer for Egypt''s energy sector, providing reliable and dispatchable renewable energy and reducing reliance on
African Development Bank, British International Investment and
African Development Bank, British International Investment and European Bank of Reconstruction and Development Support Pioneering Solar and Battery Storage Project in
Scatec signs deal with Egypt for Obelisk, Shadwan renewable energy projects
In a statement by Scatec, the company also noted that it has secured $479 million in financing for the Obelisk hybrid solar project in Egypt. The hybrid project combines a
BII, AfDB and EBRD support pioneering solar and battery storage project
The integrated power plant will be developed by Scatec, a leading renewable energy solutions provider, and built in two phases. The first phase, with 561 MW of solar and
Egypt''s 1GW / 200MWh solar-plus-storage project
The European Bank for Reconstruction and Development (EBRD) has provided a US$30 million equity bridge loan to support Egypt''s first major hybrid renewable energy project, which has now officially broken ground.
Egypt''s Solar Leap: How Scatec''s Hybrid Project Paves the Way
Egypt''s renewable energy landscape is undergoing a transformative shift, and Scatec ASA''s newly announced 1.1 GW solar-battery hybrid project—dubbed Obelisk—stands
Scatec and AMEA Power Secure Financing for Major Battery Energy Storage
These initiatives represent Egypt''s first forays into large-scale battery storage, aiding in the diversification of the energy mix and the integration of renewable energy
PROJECTS: Scatec reaches financial close for Obelisk hybrid
First published: 15-Jun-2025 19:56:42 Staff Writer Norway-headquartered renewable energy company Scatec ASA announced on Sunday that it has reached financial close for the Obelisk
Scatec Begins Construction on Egypt''s First Hybrid Solar and
CEO Terje Pilskog expressed pride in initiating Egypt''s first hybrid solar and battery storage project, emphasizing the company''s commitment to supporting the country''s
EBRD backs 1 GW solar-plus-storage project in Egypt with $30
Scatec has broken ground on Egypt''s first major hybrid solar and battery project after securing a $30 million equity bridge loan from the European Bank for Reconstruction and
EBRD, AFDB and BII support pioneering solar and
The integration of battery storage with solar PV is a game-changer for Egypt''s energy sector, providing reliable and dispatchable renewable energy and reducing reliance on fossil fuels.
Scatec Secures $479 Million for Solar and Storage Project in Egypt
Scatec, a renewable energy solutions provider, has secured $479.1 million of non-recourse project financing to develop the Obelisk hybrid solar and battery storage project
African Development Bank, British International
This project not only meets Egypt''s current energy needs but also sets a precedent for future dispatchable hybrid renewable energy projects in the region Upon completion, it will be the first integrated solar photovoltaic and
Kazar to build $2.5 billion hybrid renewable energy
Emirati investment firm Kazar has announced plans for a $2.5 billion hybrid renewable energy station in Egypt''s Zafarana region, reports Asharq Business. Developed in partnership with the Egyptian government, the project
$479M Boost for Egypt''s First 1GW Solar-Battery
In a monumental step towards a cleaner and more resilient energy future, a coalition of international development finance institutions has committed a combined $479.1 million to support the development of Egypt''s
EBRD backs Egypt''s first solar-battery hybrid plant with $30mn loan
The loan will fund the construction of a 1 GWac PV solar plant combined with a 200 MWh battery energy storage system in Nagaa Hammadi, Upper Egypt. . EBRD backs
EBRD backs Egypt''s first solar and battery storage project
It will be one of the first hybrid renewable energy projects in Egypt and is expected to serve as a pilot for uptake of the technology in the country. The project will support
EBRD backs Egypt''s first solar, battery storage project with $30m
This will be Egypt''s first hybrid solar and battery storage project, and is expected to serve as a pilot model for integrating battery storage with renewable energy in the country.
Scatec Starts Building 1.1 GW Solar-Storage Project In Egypt
Scatec ASA has started construction on a 1.1 GW solar + 100 MW/200 MWh battery storage project in Egypt It involves $590 million in CapEx, with 80% of it targeted
Scatec Secures Funding for Ambitious 1.1GW Solar and 100MW
Scatec ASA achieves financial close for the "Obelisk" hybrid solar and battery storage project in Egypt, securing USD 479.1 million in non-recourse project financing. Stay
AfDB, BII and EBRD support solar and battery storage project in Egypt
Cairo, Egypt — Egypt''s first integrated solar and battery storage plant will deliver dispatchable clean energy, enhance grid stability, and manage peak demand is expected to generate
Scatec finalizes 1.1 GW solar + 100 MW/200 MWh
Scatec ASA has reached financial close for the "Obelisk" hybrid solar and battery storage project in Egypt. The non-recourse project financing comprises USD 479.1 million provided by the European Bank for
Egypt''s Pioneering Solar and Battery Storage Project Secures
The global push for clean energy has found a significant new champion in Egypt, with the announcement of a landmark US$479.1 million loan for the nation''s first integrated
Scatec starts construction of large scale solar and battery storage
100 MW/200 MWh battery storage is targeted to reach commercial operational date (COD) in the first half of 2026 and the second phase of 564 MW solar in the second half of