From ESS News
Norway-based renewable energy developer Scatec has completed Africa’s largest solar-plus-storage project, according to the company, bringing the final 564 MW phase of its Obelisk development online near Nagaa Hammadi, Upper Egypt.
The Obelisk project is a hybrid facility, combining 1.1 GW of solar photovoltaic (PV) capacity, alongside a 100 MW / 200 MWh battery energy storage system (BESS).
Scatec had not responded to a question on the system integrator for the BESS aspect of the project by the time of writing, and typically does not name its partners. BYD Energy said it was Scatec’s partner at its major Kenhardt project in South Africa, Scatec’s largest BESS at 225 MW / 1,140 MWh.
The two‑phase build began with a power purchase agreement (PPA) signed in November 2024, with full commercial operations achieved less than two years later.
Scatec said the Obelisk project will deliver over 3,000 GWh of clean electricity annually and will cut emissions by more than 1.2 million tonnes per year, with power generation being supplied to the Egyptian Electricity Transmission Company (EETC) under a 25-year PPA.
“Reaching full commercial operations at Obelisk marks a defining milestone for Scatec. Completing Africa’s largest hybrid solar and battery installation demonstrates our ability to develop, finance, and deliver large-scale renewable energy projects in emerging markets. Obelisk will supply clean, reliable power to Egypt for 25 years and is a tangible contribution to the country’s energy security and transition,” Scatec CEO Terje Pilskog said.
The project was financed by a consortium of development finance institutions, including the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), British International Investment (BII) and European Investment Bank (EIB), which together provided $479 million in senior debt. In total, the Obelisk project costs around $590 million, meaning more than 80% is classified as non-recourse debt.
With Obelisk now online, Scatec has approximately 1.5 GW of solar capacity operational in Egypt, as the new project joins its existing 380 MW BenBan solar plant portfolio. The company is also advancing a pipeline of more than 4.3 GW of renewable energy capacity, as well as 4.1 GWh of BESS in Egypt.
Obelisk contributes to Egypt’s national target of sourcing 42% of its electricity from renewables by 2030, and 60% by 2040.
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