Egypt bets on solar-battery plant to stabilise grid

A pioneering solar and battery storage project is set to boost Egypt’s energy grid, CNN reported, citing project developers and financing sources. The Obelisk project, led by Norwegian firm Scatec, will combine 1.1 GW of solar capacity with 200 MWh of battery storage in Nagaa Hammadi, Upper Egypt. Backed by $479 million in loans from the African Development Bank, British International Investment, and the EBRD, it represents Egypt’s first large-scale solar-plus-storage venture.

The project's first phase—561 MW of solar and 100 MWh of storage—is expected online by mid-2026. Once completed, Obelisk will generate around 3 TWh annually and cut carbon emissions by an estimated 1.4 million tonnes per year. It aims to stabilize Egypt’s aging power infrastructure and reduce dependency on natural gas, particularly during peak demand and heatwaves.

The initiative supports Egypt’s 2030 goal of sourcing 42% of electricity from renewables, positioning the country as a regional leader in energy transition.