British International Investment finances US$ 479.1 million to Obelisk Solar Power SAE for Scatec-developed 1.1 GW solar and 200 MWh BESS project in Egypt
Type: Financing · Technology: Solar, Storage · Country: Egypt · Value: $479.1M · Announced: 2025-06-18
BII, the African Development Bank and the EBRD are providing a blended financing package of US$ 479.1 million to Obelisk Solar Power SAE (owned by Scatec ASA) to develop a 1.1 GW solar PV plant integrated with a 200 MWh battery energy storage system in Nagaa Hammadi, Egypt, with power sold under a 25-year USD PPA to the Egyptian Electricity Transmission Company backed by a sovereign guarantee.
Counterparties
- European Bank for Reconstruction and Development (Lender)
- Obelisk Solar Power SAE (Developer)
- British International Investment (Lender)
- African Development Bank (Lender)
- Scatec ASA (Developer)
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