Scatec ASA has reached full commercial operations on the second and final phase of its 1.1 GW Obelisk solar and battery storage project in Egypt, completing what the company calls Africa’s largest hybrid solar and battery installation.
The project was built in two phases: the first delivered 561 MW of solar capacity plus a 100 MW/200 MWh battery storage system, while the newly completed second phase adds another 564 MW of solar. The power purchase agreement was signed in November 2024, and Scatec says the plant was built in record time.
Scatec CEO Terje Pilskog called reaching full commercial operations at Obelisk a defining milestone for the company, saying it shows Scatec’s ability to develop, finance and deliver large-scale renewable projects in emerging markets and will supply Egypt with clean power for 25 years.
Obelisk is expected to cut more than 1.2 million tonnes of CO2 emissions a year and deliver over 3,000 GWh of clean energy annually to the Egyptian Electricity Transmission Company under a 25-year, dollar-denominated power purchase agreement. With Obelisk now fully online alongside the 380 MW BenBan plant, Scatec has around 1.5 GW operating in Egypt, with a further 4.3 GW of renewable capacity and 4.1 GWh of battery storage in its near-term pipeline. Scatec is the controlling shareholder, with National Bank of Egypt, Norfund and EDF Power Solutions as minority partners, and the European Bank for Reconstruction and Development, African Development Bank, British International Investment and European Investment Bank as senior lenders.
Source: scatec.com
