Renewable Energy Work starts on $590m hybrid solar power project in Egypt By Pramod Kumar May 8, 2025, 3:43 PM Wam The Obelisk solar project, planned to be developed in two phases, is expected to be fully operational by the second half of 2026 Norway’s Scatec begins construction First phase will generate 561MW Fully operational by 2026 Norwegian renewable energy producer Scatec has started constructing its $590 million first hybrid solar power and battery storage project in Egypt. The 1.1 gigawatt (GW) Obelisk solar project, located on the west bank of the Nile, will include 200 megawatt hours (MWh) of battery storage, Egypt Today newspaper reported. In September the company said that work will start in the first half of 2025. The project, planned to be developed in two phases, is expected to be fully operational by the second half of 2026. The first phase will generate 561 megawatts (MW) and 200MWh of battery storage by mid-2026. The second phase will add another 564MW before the end of 2026. The project will be connected to Egypt’s national grid through 220kV transmission lines. Egypt’s first hybrid solar project to break ground next year Tunisia awards solar power projects to international companies Egypt advances 7,150MW of renewable energy projects State-run Egyptian Electricity Transmission Company and a consortium that includes Kharafi National and Power Ring signed a construction contract last month. In December 2024, the project was granted a golden licence, which fast tracks the project. Scatec has secured $120 million in equity bridge loans for the project, the report said. The Arab Energy Fund will invest $90 million, while the European Bank for Reconstruction and Development will contribute $30 million. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
