Understanding Total investment cost of wall mounted battery project in Egypt
The project, with a total estimated cost of USD 590 million, is supported by USD 120 million in equity bridge loans—USD 90 million from the Arab Energy Fund (maturing in Q2 2028) and USD 30 million from the EBRD (maturing in Q1 2027).
The project, with a total estimated cost of USD 590 million, is supported by USD 120 million in equity bridge loans—USD 90 million from the Arab Energy Fund (maturing in Q2 2028) and USD 30 million from the EBRD (maturing in Q1 2027).
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 solar photovoltaic project and 200MWh battery energy storage system in Egypt, which will be Africa’s largest solar power plant.
With an investment of approximately USD 590 million, Scatec aims to boost Egypt’s renewable energy capacity, contributing to the nation’s sustainability goals. The project is set to unfold in two phases, with the first phase targeting completion by mid-2026. The Obelisk solar and battery storage.
Independent power producer (IPP) Scatec has raised US$479 million for its Obelisk hybrid solar and battery storage project in Egypt. The funding is being provided by the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), and British International Investment.
Total investment costs are estimated at US$590 million, with blended finance covering approximately 80 per cent of the total capital expenditure. The EBRD will contribute a loan of up to US$173.5 million, including US$101.9 million under the European Fund for Sustainable Development Plus (EFSD+).
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-denominated 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC), backed by.
The Nagaa Hammadi-based Obelisk hybrid solar and battery storage project by Scatec is estimated at USD 590 million. Norway-based renewable energy company Scatec ASA has announced the financial close for its landmark Obelisk hybrid solar and battery storage project in Nagaa Hammadi, Qena.
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