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
The financing covers 80 percent of the estimated capital expenditure of $590 million, making it Egypt''s first large-scale integrated solar and battery storage project.
BII has also signed an agreement to co-finance Egypt''s first integrated solar photovoltaic (PV) and battery energy storage system (BESS), in partnership with Scatec, AfDB, and EBRD. The $479.1 million project –
The battery storage technologies do not calculate levelized cost of energy (LCOE) or levelized cost of storage (LCOS) and so do not use financial assumptions. Therefore, all parameters are
Overview Energy storage technologies, store energy either as electricity or heat/cold, so it can be used at a later time. With the growth in electric vehicle sales, battery storage costs have fallen
The European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII) have jointly committed
Executive Summary In this work we describe the development of cost and performance projections for utility-scale lithium-ion battery systems, with a focus on 4-hour duration
Egypt secures $479M loan for first solar-battery plant, backed by AfDB, EBRD, and BII, led by Scatec''s Obelisk SPV for green energy transition.
This investment will help Egypt bring its very first large-scale hybrid solar and battery energy storage project to life. Positioned as a flagship initiative, the project features a 1 gigawatt-alternating current (GWac) photovoltaic (PV) solar plant
4 天之前· TotalEnergies develops battery-based electricity storage solutions, an essential complement to renewable energies. Find out more about our projects and achievements in this
The work of McIlwaine et al. [25] analyses the impact of battery storage on the overall cost of generation, emissions levels, ramping time, and excess energy in an isolated
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
Across the region, governments and private sector players are investing in battery production, assembly, and integration to meet the needs of emerging energy ecosystems. In particular,
Egypt has secured $479.1 million in international financing to build its first large-scale solar power plant with battery storage, a milestone in its energy transition.
In this article, we provide an overview of current developments in the energy market, especially for large-scale battery storage systems in Germany, and demonstrate why the German market, in particular, offers
On June 15, 2025, Egypt and Norwegian renewable energy developer Scatec announced the financial close on "Obelisk" - a landmark $600 million hybrid solar and battery storage project
EBRD making US$ 30 million equity bridge loan to Obelisk Solar Power, a project company owned by Scatec ASA Facility to finance a new 1 GWac solar plant with 200
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
AMEA Power has commissioned a 300 MWh battery energy storage system in Egypt, a first for the country, extending the Aswan solar site''s activity and consolidating its presence in the
Egypt Aluminium is the largest industrial electricity consumer in Egypt. The solar and storage project will help the company reduce its carbon emissions and meet the European
On completion, it will be the first integrated solar photovoltaic and battery storage project of this scale in Egypt, and a significant milestone in the country''s energy
By embracing projects like the solar and battery storage initiative, Egypt aims to diversify its energy sources and reduce its carbon footprint. Additionally, Scatec and the Suez
The European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), and British International Investment (BII), the United Kingdom''s
The first quarter of 2025 was the second best on record for investment in large-scale Battery Energy Storage Systems (BESS) in Australia, with six projects worth $2.4 billion in total reaching the financial commitment
Total capex for the project is approximately USD 590 million to be partly financed by a targeted 80% non-recourse long-term project debt. Scatec will deliver Engineering, Procurement and Construction (EPC), Asset
African Development Bank, British International Investment and European Bank of Reconstruction and Development Support Pioneering Solar and Battery Storage Project in
AMEA Power has been a key player in Egypt''s renewable energy sector, with investments exceeding $3 billion across solar, wind, and battery storage projects, bringing the company''s total capacity in the country to
The Gulf of Suez Wind Farm and the Obelisk solar and battery storage project developed by Scatec will add over 2 GW of clean energy capacity to the national grid and
AMEA Power has been a key player in Egypt''s renewable energy sector, with investments exceeding $3 billion across solar, wind, and battery storage projects, bringing the
Scatec ASA has reached financial close for the "Obelisk" hybrid solar and battery storage project in Egypt. The 1.1 GW solar plus 100 MW/200 MWh battery energy
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
In Hungary, up to 45% of the project costs for large-scale battery storage are covered by grants, in addition to a CfD program and grid connection facilitations. See also:
