The financial close of two significant large-scale projects in Egypt could mark progress for the country''s nascent energy storage sector.
A consortium of development banks including British International Investment (BII), the African Development Bank (AfDB) and the European Bank for Reconstruction and
Scatec ASA finalises financing for its hybrid solar-battery Obelisk project in Egypt, securing $479.1 million from international financial institutions for a planned capacity of 1.1 GW solar and 100
The African Development Bank (AfDB) will provide Egypt with $746m in funding in 2025, matching the amount projected for 2026, according to Abdourahmane Diaw, AfDB''s
Oslo/Cairo, 05 May 2025: Scatec ASA has commenced construction of its 1.1 GW Obelisk solar and 100 MW/200 MWh battery storage project in Egypt. The energy will be sold under a USD
The European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB) and British International Investment (BII) are lending US$479 million
ABIDJAN, Ivory Coast, June 12, 2025/APO Group/ -- The Board of Directors of the African Development Bank Group () has approved a financing package of up to $184.1
This is a major milestone in the implementation of the EU-Egypt Strategic Partnership. This particular project is a concrete example of a fruitful collaboration between the EU and the EBRD for supporting green transition in
Egypt''s first utility-scale battery energy system storage developed by AMEA Power, delivered ahead of schedule Commissioning follows recent financial close, marking a major milestone in AMEA Power''s growing
Floor-Standing Battery Systems Range from 5kWh to 50kWh+ per unit Heavier and larger footprint (e.g., 600mm × 700mm × 1200mm) Installed on the ground, sometimes
Oslo/Cairo, 05 May 2025: Scatec ASA has commenced construction of its 1.1 GW Obelisk solar and 100 MW/200 MWh battery storage project in Egypt. The energy...
The Board of Directors of the African Development Bank Group has approved a financing package of up to $184.1 million to support the development of the Obelisk 1-gigawatt
Oslo based Scatec ASA has reached financial close for the 1.1GW solar + 100MW/200MWh BESS project in Egypt. The hybrid solar and battery storage project is
Read more March 19, 2025 PPA signed for 1.1 GW solar + BESS project in Egypt Scatec ASA signed a 25-year USD-denominated corporate Power Purchase Agreement
Egypt has achieved a significant milestone in its renewable energy journey with the financial close of its first utility-scale Battery Energy Storage System (BESS).
Norton Rose Fulbright has advised Scatec on the financing of its 1.1 GW solar and 100 MW/200 MWh battery energy storage system project in Egypt.
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
The European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), and British International Investment (BII), the United Kingdom''s development finance institution and impact
Scatec, a Norwegian renewable energy company, has started construction of its 1.1GW Obelisk solar project in Nagaa Hammadi, Egypt with backing from the European Bank
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.
Author: Elgar Middleton The Art of Financing Battery Energy Storage Systems (BESS) Elgar Middleton has extensive debt and equity experience in arranging finance for BESS portfolios, having closed three
Oslo/Cairo, 13 March 2025: Scatec ASA, a leading renewable energy solutions provider, today signed a 25-year USD-denominated corporate Power Purchase Agreement (PPA) with Egypt Aluminium for a 1.1 GW Solar PV + 100
AMEA Power confirmed on 16 June the financial close of Egypt''s first grid-scale battery energy storage system, a 300MWh facility in Kom Ombo, Aswan Governorate. The project extends the
The financial closure of two major large-scale projects in Egypt signifies a promising advance for the country''s emerging energy storage sector. Recently, developers
Norton Rose Fulbright has advised Scatec.Scatec has reached financial close for the Obelisk hybrid solar and battery energy storage system project in Naquaa Hammadi,
In the era of clean energy and smart power solutions, the Mobile Floor Standing Energy Storage Battery is redefining how homes, businesses, and industries manage
AMEA Power has reached financial close on Egypt''s first utility-scale battery energy storage system (BESS), a 300 megawatt-hour project to be integrated with its existing 500 megawatt solar photovoltaic plant in the Aswan
Egypt has secured $479.1 million in blended financing from three major development finance institutions to support its first large-scale integrated solar photovoltaic
The financial close of two significant large-scale projects in Egypt could mark progress for the country''s nascent energy storage sector.
As with all project finance transactions, project companies must show that the project can support a steady and reliable stream of cashflows. Traditionally, energy storage projects have had long-term offtake agreements,
Landmark deal to support 1 GW PV plant and 200 MWh battery system AfDB, EBRD, and BII back Scatec-led project in Nagaa Hammadi Egypt has secured $479.1 million in
AMEA Power, UAE announces that it has reached financial close on Egypt''s first-ever utility-scale Battery Energy Storage System (BESS). The 300MWh BESS Project
Cairo, Egypt -- Egypt''s first integrated solar and battery storage plant will deliver dispatchable clean energy, enhance grid stability, and manage peak demand.
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. It not only meets Egypt’s current energy needs but also sets a precedent for future dispatchable hybrid renewable energy projects in the region.”
Egypt aims to reach 42 per cent of renewables in its power mix by 2030. The solar power plant is expected to generate approximately 3,000 GWh per year of additional renewable power, which will enhance grid stability and manage peak demand. It will also reduce carbon dioxide emissions by up to 1.4 million metric tonnes annually.
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.
