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 investor, are providing a total of US$ 479.1 million to Obelisk Solar Power SAE, a
Home Business Scatec secures $479.1 mln from AfDB, BII, and EBRD for Egypt’s largest British International Investment (BII), the African Development Bank (AfDB), and the European Bank for Reconstruction and Development (EBRD) have jointly committed $479.1 million in blended finance to Obelisk
The African Development Bank, European Bank for Development and Reconstruction (EBRD), and British International Investment (BII) are investing $479.1 million to develop a major solar and battery storage facility in Egypt. This project, led by Obelisk Solar Power SAE and Scatec ASA, will integrate
The European Bank for Reconstruction and Development (EBRD) has committed a $30 million equity bridge loan to support the development of Egypt ’s first utility-scale hybrid solar and battery storage project, in a bid to accelerate the country’s green energy transition. The financing will go to
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 Governorate. The power project is the largest solar power plant in Africa and comprises a 1GW solar plant, along with a
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 Reconstruction and Development (EBRD), African Development Bank (AfDB), and British
EBRD, AFDB and BII support pioneering solar and
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.
Scatec secures $479.1 mln from AfDB, BII, and EBRD for Egypt’s
The landmark project, the first of its kind in Egypt, marks a critical step in the country’s push to meet its 42% renewable energy target by .
Egypt's Solar Power Leap: $479M Investment Fuels Green
Upon completion, this will be Egypt’s first large-scale integrated solar and battery storage project, aligning with the country’s goal of achieving 42% renewable energy in its
EBRD, AfDB & BII Back Egypt’s 1.1 GW Solar and Battery
This project is one of Egypt's measures to achieve its ambitious renewable energy targets, including 42% renewables in the power mix by . The plant will inject about 3,000 GWh of
EBRD backs Egypt’s first solar-battery hybrid plant with $30mn loan
The European Bank for Reconstruction and Development (EBRD) has committed a $30 million equity bridge loan to support the development of Egypt ’s first utility
AfDB announces $184m for solar and battery storage project 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
Project Finance Brief: Scatec Secures $479 Million for Solar and
Scatec, a renewable energy solutions provider, has secured $479.1 million of non-recourse project financing to develop the Obelisk hybrid solar and battery storage project
BII, AfDB and EBRD support pioneering solar and battery storage
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
EBRD mulls loan for Scatec’s 1-GW solar-storage
The European Bank for Reconstruction and Development (EBRD) is considering providing a loan of up to USD 120 million (EUR 111.4m) to support the construction and development of a 1-GW solar project, coupled
Scatec signs PPA for 1 GW solar and 100 MW/200 MWh battery storage
12 September, Cairo/Oslo: Scatec ASA has signed a USD denominated 25-year power purchase agreement (PPA) with Egyptian Electricity Transmission Company (EETC) for a 1 GW solar
MENA Solar and Renewable Energy Report
In collaboration with: The Middle East and North Africa saw again confirm the growth and importance of commissioning large projects and launching additional phases of their renewable
Egypt Expands Renewable Energy with Solar and Storage Projects
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
AfDB announces $184m for solar and battery storage project in Egypt
The power project is the largest solar power plant in Africa and comprises a 1GW solar plant, along with a 200 megawatt-hour (MWh) battery energy storage system. The total estimated
BII signs over $300 million in agreements to
The projects will advance Egypt’s ambition to generate 42% of its electricity from renewables by . The Gulf of Suez Wind Farm and the Obelisk solar and battery storage project developed by Scatec will add over 2
Egyptian Solar Set to Expand Beyond the Massive 1.8
In December , Scatec – which already operates 380 MW at Benban – signed a cooperation agreement with the EEHC for the development of a 1 GW solar and 200 MWh battery project, which will be the first utility scale
Middle East: Energy Transition Unlocks Huge Market
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
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