Egypt is taking a major step forward in its clean energy journey with a large renewable energy project that combines solar power with advanced battery storage. The project, developed by Norwegian company Scatec, is being built in the Qena Governorate and is expected to become one of the country’s most important green energy initiatives. It is also being called the “Obelisk” project and is considered a first-of-its-kind development in Egypt due to its integration of solar generation with a large-scale Battery Energy Storage System.
The project is receiving strong financial support from several international institutions. These include the European Investment Bank, the European Bank for Reconstruction and Development, the African Development Bank, and British International Investment. Together, these lenders are contributing hundreds of millions of dollars to ensure the successful execution of the project. The European Investment Bank alone has committed around $150 million, while other partners are also providing loans and grants, especially to support the battery storage component.
The solar plant is planned to have a total capacity of more than 1 gigawatt, making it one of the largest in the region. A key highlight of the project is its 100 MW / 200 MWh battery storage system. This technology allows excess solar energy produced during the day to be stored and used later when demand is high or when sunlight is not available. This helps in improving grid stability and ensures a more reliable power supply.
Once completed, likely by 2026, the project is expected to generate around 3,000 gigawatt-hours of clean electricity every year. It will also help reduce carbon emissions by about 1.4 million metric tonnes annually. This aligns with Egypt’s long-term plan to increase the share of renewable energy in its power mix to 42% by 2030.
The project also reflects strong cooperation between Egypt and international partners, often described as a “Team Europe” approach. It highlights how global collaboration can support large-scale renewable energy development. In addition to environmental benefits, the project is expected to create jobs and support local economic growth. Overall, it sets an example for future clean energy investments in Africa by showing how solar power, when combined with storage, can provide stable and sustainable electricity.
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