The Borup battery storage facility, 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 storage system (BESS) project is backed by non-recourse financing of USD 479.1 million.
It will be one of the first hybrid renewable energy projects in Egypt and is expected to serve as a pilot for uptake of the technology in the country. The project will support the green energy transition in Egypt while helping keep the grid stable and reliable in the face of growing electricity demand.
The second phase, comprising 564 MW of solar, is scheduled for the second half of 2026. Electricity from the project will be sold under a USD-denominated 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC), supported by a sovereign guarantee.
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.
Our photovoltaic systems and energy storage products are engineered for reliability, safety, and efficient deployment. All systems include comprehensive monitoring and control systems with remote management capabilities.
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 storage …
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Earlier in December, Scatec signed shareholder agreements with Norfund and renewable energy developer EDF Power Solutions to partner on the Obelisk hybrid project in …
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The fuel crisis in Egypt is driving the development of solar energy. GSL ENERGY is helping Egypt achieve its renewable energy transition and market growth with advanced …
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The first phase of the project is scheduled for commercial operation during the first half of next year and the site is backed by a 25 …
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Scatec starts constructing large-scale solar, battery storage project in Egypt Work is underway on a 1.1 GW solar project with 100 …
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Egypt’s government has signed contracts with developer AMEA Power for two large-scale battery energy storage projects, the …
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The commissioning of this BESS project marks AMEA Power’s first utility-scale storage project in North Africa, reinforcing the company’s …
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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...
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Scatec ASA has officially commenced construction on its landmark 1.1 GW Obelisk solar power project in Egypt, which includes an …
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The European Bank for Reconstruction and Development (EBRD) has provided a US$30 million equity bridge loan to support …
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EDF power solutions has acquired a 20% stake in the Obelisk hybrid project near Luxor, a 1.1 GW solar plant with 100 MW/200 MWh battery storage.
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Scatec ASA has officially commenced construction on its landmark 1.1 GW Obelisk solar power project in Egypt, which includes an integrated 100 MW/200 MWh battery energy …
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Will Egypt build a microgrid? Earlier this year, state-owned utility Egyptian Electricity Holding Co. held an expressions-of-interest tender for the design, construction and operation of a 8.2 MW …
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Construction of Egypt''s first solar and battery storage hybrid project is set to commence in the first half of 2025. The project will feature a 1 GW solar capacity paired with a …
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The first phase of the project is scheduled for commercial operation during the first half of next year and the site is backed by a 25-year power purchase agreement (PPA) from …
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The UAE renewable energy company Amea Power has signed an agreement with the state-run Egyptian Electricity Transmission …
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EBRD making US$ 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 MWh of …
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Obelisk is Scatec’s largest project to start construction to date and combines solar and batteries to deliver stable and cost competitive renewable energy to support Egypt’s …
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The company has signed Capacity Purchase Agreements to develop the first standalone battery energy storage stations in Egypt. …
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The project aims to build a 1 GW solar and 100 MW/200 MWh storage hybrid project in Egypt. Scatec''s CEO, Terje Pilskog, stated, "This will be Egypt''s first hybrid solar …
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