The project uses a blended finance structure, combining concessional loans, guarantees, and grants to support development of critical energy infrastructure. The AfDB is
Norway-headquartered Scatec ASA has reached financial close for the Obelisk hybrid solar and battery storage project in Egypt. It has secured $479.1 million in funding from
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
The project will deliver energy under a 25-year USD-denominated Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC),
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.
The project''s emphasis on solar photovoltaic (PV) technology combined with advanced Battery Energy Storage Systems (BESS) is particularly relevant, demonstrating how
Independent power producer (IPP) Scatec has raised US$479 million for its Obelisk hybrid solar and battery storage project in Egypt.
Commercial Solar Credit Still Exists (Sec 48E) • Solar developers (who own TPO/PPA systems) can still claim the full 30% tax credit if: • Construction begins by June 2026, OR • Project is
The total capital expenditure for this expansive project is estimated at around USD 590 million, which underscores Scatec''s commitment to investing significantly in Egypt''s
The project is expected to reach commercial operation in 2026. The debt financing includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit
The first of the two phase project is a 561 MW solar + 100 MW/200 MWh battery storage, targeted to reach commercial operational date (COD) in the first half of 2026. The
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.
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 Abydos Solar PVpower plant will generate 1,500GWh of clean energy, powering approximately 300,000 households and will offset 782,300 tons of CO2 emissions. The project, completed in just 18 months, is
A Strategic Vision: The Obelisk project is poised to become Egypt''s first integrated solar photovoltaic and battery storage project of this magnitude, ushering in a new era for energy generation in the country.
What is Solar & Storage Live Egypt? Solar & Storage Live Egypt is Egypt''s largest renewable energy exhibition that celebrates the technologies at the forefront of the transition to a greener,
The Solar Marketplace helps you understand your options for solar financing while pairing you with high quality pre-screened solar installers.
Scatec ASA has officially commenced construction on its 1.1 GW Obelisk Solar PV and BESS project in Egypt. The BESS will have a capacity of 100 MW/200 MWh . The
The integrated power plant will be developed by Scatec and built in two phases. The first phase, with 561 MW of solar and 100 MW/200 MWh of battery storage, aims to start
Together, the projects will come online in late 2026 and use enough solar panels to cover over 160 rugby fields. The latest milestone forms part of JUWI''s broader construction
The project will be built in two parts. The first part, which includes 561 MW of solar power and a 100 MW/200 MWh battery, is expected to be up and running in the first half of 2026. The second part, adding another 564 MW of
Egypt''s first integrated solar and battery storage plant will deliver dispatchable clean energy, enhance grid stability and manage peak demand Part of the loan will benefit from a European Fund for Sustainable Development first
U.S. residential solar ABS and solar loan credit performance have declined Solar asset-backed securitization (ABS) transactions totaled US$3.89 billion in 2022 and averaged US$324 million per transaction size.
Norwegian renewable energy company Scatec announced Sunday it had reached financial close for its over-one-gigawatt "Obelisk" hybrid solar and battery storage project in Egypt.
Scatec has reached financial close for its Obelisk hybrid solar and battery storage project in Egypt, which is to be delivered in two phases.
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...
This financing will support the development of a 1.1 GW solar power plant integrated with a 200 MWh battery energy storage system (BESS) in Egypt''s Nagaa Hammadi
This guide is designed to help homeowners navigate the complex landscape of residential solar photovoltaic (PV) system financing and select the best option for their needs. It
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 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
This guide is designed to help homeowners navigate the complex landscape of residential solar photovoltaic (PV) system financing and select the best option for their needs. It describes three popular residential
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 transition.
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.
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.
