Egypt’s first large-scale solar and battery project secures $479 million in blended financing

• Landmark deal to support 1 GW PV plant and 200 MWh battery system
• AfDB, EBRD, and BII back Scatec-led project in Nagaa Hammadi

Egypt has secured $479.1 million in blended financing from three major development finance institutions to support its first large-scale integrated solar photovoltaic (PV) and battery storage project. The 1 GW Obelisk Solar Power plant, located in the Nagaa Hammadi region, will include a 200 MWh Battery Energy Storage System (BESS), making it one of the most ambitious renewable energy undertakings on the continent.