Egypt’s first solar and battery project backed by EBRD

21 May 202526 July 2025By admin

The European Bank for Reconstruction and Development (EBRD) is making a $30m loan available to Obelisk Solar Power, a project company owned by Scatec ASA. The financing facility will finance a new 1GWac solar plant in Egypt with 200MWh of battery storage. It is expected that the project will reduce CO2 emissions by 1.3m tonnes per year.

This will be one of the first hybrid renewable energy projects in Egypt and is expected to serve as a pilot for uptake of solar power in the country.

The project will also support the green energy transition in Egypt while helping keep the grid stable as electricity demand increases.

investment, project, renewables, solar

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