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
As Egypt''s first industrial grade solar energy storage project, its power generation will prioritize meeting the low-carbon production needs of the Egyptian aluminum
Egypt''s has launched its first integrated solar photovoltaic (PV) and battery energy storage system (BESS), backed by $479.1 million in financing from three major
After debt payments have been made, other investors (like equity investors) will be paid. In general, project''s assets are used as collateral to the loan. This type of financing is common in renewable energy projects because building solar,
The project not only embodies a commitment to renewable energy but also significantly contributes to Egypt''s ambitious objective of achieving 42% renewable energy in
The African Development Bank Group (AfDB) has approved a financing package worth up to $184.1m to support the development of the Obelisk solar photovoltaic project in Egypt''s Qena
Source: African Development Bank Group (AfDB) | Jun 16, 2025 African Development Bank, British International Investment and European Bank of Reconstruction and
The project not only embodies a commitment to renewable energy but also significantly contributes to Egypt''s ambitious objective of achieving 42% renewable energy in its power generation mix by 2030. Project
The African Development Bank Group (AfDB) has approved up to $184.1 million in financing for Egypt''s Obelisk solar power and battery storage project. The project involves the construction and operation of a one gigawatt
The project''s emphasis on solar photovoltaic (PV) technology combined with advanced Battery Energy Storage Systems (BESS) is particularly relevant, demonstrating how
(AfDB)-Egypt''s first integrated solar and battery storage plant will deliver dispatchable clean energy, enhance grid stability, and manage peak demand. It is expected to
The European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and British International Investment (BII) have jointly committed
Solar Panel Manufacturing Plant Request for study Mashroo3k Consulting offers a comprehensive feasibility study for a solar panel manufacturing plant project in Egypt, aiming to achieve the
The recently announced deal brings AMEA Power''s deployment of battery storage systems in Egypt to 2,400MWh, while the company says it is developing solar and
MENA Region Accelerates Energy Transition, Solar+Storage & Grids Seize Growth Opportunities MENA has huge sunlight potential and has inherent advantages in developing photovoltaics. In recent years, the Middle
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
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.
The African Development Bank Group (AfDB) has approved a financing package worth up to $184.1m to support the development of the Obelisk solar photovoltaic project in Egypt''s Qena
The African Development Bank, European Bank for Development and Reconstruction (EBRD), and the British International Investment (BII), the UK''s development
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
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
Egypt''s has launched its first integrated solar photovoltaic (PV) and battery energy storage system (BESS), backed by $479.1 million in financing from three major
Norwegian renewable energy company Scatec ASA has signed a landmark 25-year Power Purchase Agreement (PPA) with Egypt Aluminium (EgyptAlum) to develop a 1.1
The African Development Bank (AfDB) has approved a $184.1 million financing package for the development of the Obelisk 1-gigawatt solar photovoltaic project and a 200 mega watt (MW) battery energy storage system
The African Development Bank Group (AfDB) has approved a financing package worth up to $184.1m to support the development of the Obelisk solar photovoltaic project in Egypt''s Qena
Prime Minister Mustafa Moadouli stated that this strategy aligns with Egypt''s ''Vision 2030'' sustainable development goals, emphasizing the country''s natural resources—especially solar and wind energy—to enhance low-carbon
Egypt is set to construct Africa''s largest solar energy and battery storage facility after securing a $184.1 million financing package from the African Development Bank (AfDB). The Obelisk project, a 1-gigawatt solar photovoltaic
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
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
EBRD, AfDB, and BII finance Egypt''s first 1.1 GW solar PV plant with battery storage, boosting renewable energy and grid stability by 2026.
Trimble and Hyundai Launch Factory-Ready HD130A Dozer with 3D Grade Control Green Finance for Smart and Sustainable Infrastructure in Chisinau EIB TechEU
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
Norwegian developer Scatec ASA has signed a 25-year power purchase agreement (PPA) for a 1 GW solar array and 100 MW/200 MWh battery storage project in Egypt. CEO Terje Pilskog says it is Egypt''s
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.”
It takes Egypt’s green energy transition to another level by harnessing the power of the sun, not just during the day but also at night, thanks to the combination of solar and battery storage. The project addresses the growing demand for electricity and reduces the need to import expensive fossil fuels.
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.
