Egyptian solar set to expand beyond the massive 1.8
In this edition of the Weekend Read, we turn to Egypt. The gigawatt-scale Benban project showcases the North African country''s solar potential, and premium prices for gas exports make the case
Egypt''s Solar Leap: How Scatec''s Hybrid Project Paves the Way
The Project''s Strategic Underpinnings The Obelisk project is not merely a power plant but a blueprint for sustainable investment. Its hybrid design—1.1 GW of solar capacity
Scatec reached financial close for Obelisk PV & BESS project in Egypt
Egypt''s 1.1 GW Obelisk hybrid solar and storage project, led by Scatec, has secured $479.1 million in funding from EBRD, AfDB and BII, covering 80% of total costs.
Multilateral lenders commit nearly $480 million to Egypt''s largest
The European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII) have jointly committed
MENA Solar and Renewable Energy Report
In collaboration with: The Middle East and North Africa saw 2019 again confirm the growth and importance of commissioning large projects and launching additional phases of their renewable
Egypt Embarks on $590 Million Hybrid Solar and Battery Storage
Egypt has commenced construction on the Obelisk solar project, a $590 million hybrid solar power and battery storage initiative led by Norwegian renewable energy firm Scatec.
Scatec finalizes 1.1 GW solar + 100 MW/200 MWh
Scatec ASA has reached financial close for the "Obelisk" hybrid solar and battery storage project in Egypt. The non-recourse project financing comprises USD 479.1 million provided by the European Bank for
Scatec finalizes 1.1 GW solar + 100 MW/200 MWh BESS project
Scatec ASA has reached financial close for the "Obelisk" hybrid solar and battery storage project in Egypt. The non-recourse project financing comprises USD 479.1
Scatec signs PPA for 1 GW solar and 100 MW/200 MWh battery storage
12 September, Cairo/Oslo: Scatec ASA has signed a USD denominated 25-year power purchase agreement (PPA) with Egyptian Electricity Transmission Company (EETC) for a 1 GW solar
EBRD, AFDB and BII support pioneering solar and
Egypt is a founding member of the EBRD. Since the start of the Bank''s operations in the country in 2012, it has invested more than €13.3 billion in 202 projects across the country.
Egypt''s First Solar and Battery Storage Project Backed by EBRD
The European Bank for Reconstruction and Development (EBRD) is supporting Egypt''s renewable-energy sector by providing a US$ 30 million equity bridge to Obelisk Solar
African Development Bank, British International
Source: African Development Bank Group (AfDB) | Jun 16, 2025 African Development Bank, British International Investment and European Bank of Reconstruction and Development support pioneering solar and battery
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
Scatec signs PPA for large-scale solar-plus-storage
Norway''s Scatec Asa has signed a 25-year power purchase agreement (PPA) with Egypt Aluminium for a 1.1 GW solar plant with 100 MW/200 MWh of battery energy storage. The agreement has been billed
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 million provided by the European Bank
PROJECTS: Scatec reaches financial close for Obelisk hybrid solar
First published: 15-Jun-2025 19:56:42Staff WriterNorway-headquartered renewable energy company Scatec ASA announced on Sunday that it has reached financial close for the Obelisk
Scatec reaches financial close for the 1.1GW solar
The financing amount corresponds to approximately 80% of total estimated capex of USD 590 million. "Reaching financial close for this project marks a major milestone for Scatec. It proves our ability to deliver large-scale
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.
AMEA Power launches Africa''s largest battery
With a total investment of $800 million, these projects illustrate a commitment to improving Egypt'' s energy security by increasing the share of renewable energies in the energy mix. The projects focus on decarbonization,
Scatec Reaches Egypt''s Obelisk Hybrid Solar and BESS Project
The European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), and British International Investment (BII), the United Kingdom''s
BII, AfDB and EBRD support pioneering solar and battery storage project
Egypt''s first integrated solar and battery storage plant developed by Scatec will deliver dispatchable clean energy, enhance grid stability and manage peak demand BII''s
Scatec''s Solar-Battery Project in Egypt Reaches Financial Close
The battery storage solution developed by ABB could be a front runner to Qatar''s solution for 2022. Scatec ASA has secured financial closure for the Obelisk hybrid solar
$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
Scatec Secures $479 Million for Landmark Obelisk Hybrid Solar
Scatec, a leading independent power producer (IPP), today announced it has successfully secured US$479 million in funding for its Obelisk hybrid solar and battery storage
China New Energy Abroad: CEEC Largest Solar Storage Plant in Egypt
On December 14, 2024, the largest integrated photovoltaic and storage power station in Egypt, which was built by China Energy Construction, officially started construction in this area. The
3 FAQs about [Total investment cost of hybrid renewable storage project in Egypt]
How does the EBRD invest in Egypt?
The EBRD’s areas of investment in Egypt include the financial sector, agribusiness and manufacturing and services, as well as infrastructure projects in the power, municipal water and wastewater service sectors, and contributions to upgrading the transport sector.
How can solar power and battery storage improve grid stability?
The combination of solar power generation and battery storage presents numerous advantages for energy management and reliability. By integrating these technologies, Scatec is set to enhance grid stability while addressing fluctuations associated with variable renewable resources like solar energy.
How much money will the EBRD provide?
The EBRD will provide a loan of up to US$ 173.5 million, of which US$ 101.9 million will benefit from a European Fund for Sustainable Development (EFSD+) first-loss cover guarantee for the first 18 years, in addition to a US$ 6.5 million grant from the EBRD Shareholder Special Fund.