About Total investment cost of solar diesel hybrid storage project in Egypt
The total cost of the project is US$590 million, of which around 80% – or US$479.1 million – has been secured through financing. Previously, Scatec secured US$120 million in equity bridge loans (EBL). The 1.1GW/200MWh solar-plus-storage project will be built in two phases.
The total cost of the project is US$590 million, of which around 80% – or US$479.1 million – has been secured through financing. Previously, Scatec secured US$120 million in equity bridge loans (EBL). The 1.1GW/200MWh solar-plus-storage project will be built in two phases.
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.
Oslo/Cairo, 15 June 2025: 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.
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 located in Egypt. The funding, which corresponds to approximately 80% of the total estimated capital expenditure (capex) of.
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.
Exciting news is coming out of Egypt as Scatec ASA hits a major milestone with the financial close of its “Obelisk” hybrid solar and battery storage project. This landmark venture is set to make waves in the renewable energy sector, marking a pivotal step forward for sustainable energy in Africa.
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.
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