Obelisk solar and BESS project, Egypt
Name of the Project
Obelisk solar and BESS project.
Location
Egypt.
Project Owner/s
Renewable-energy systems provider Scatec.
Project Description
The project entails the construction of a 1.1 GW solar and 100 MW/200 MWh battery energy storage system (BESS) project.
The project will be built in two phases.
The first phase comprises 561 MW of solar and 100 MW/200 MWh BESS and the second phase 564 MW of solar.
The energy will be sold under a dollar-denominated 25-year power purchase agreement with the Egyptian Electricity Transmission Company, supported by a sovereign guarantee.
Potential Job Creation
Not stated.
Capital Expenditure
$590-million, to be partly financed by a targeted 80% nonrecourse long-term project debt.
Planned Start/End Date
Construction started in May 2025.
The first phase of the project is targeted to reach its commercial operational date (COD) in the first half of 2026.
Phase 2 is expected to reach its COD in the second half of 2026.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
Scatec (engineering, procurement and construction, asset management; as well as operations and maintenance services).
Contact Details for Project Information
Scatec, tel +47 480 85 500 or email post@scatec.com.
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