From GlobeNewswire: 2025-06-15 10:03:00

Scatec ASA has secured financing of USD 479.1 million for the “Obelisk” hybrid solar and battery storage project in Egypt, representing 80% of the total estimated capex of USD 590 million. The project will be constructed in two phases, with the first phase targeted for completion in the first half of 2026. Scatec will provide EPC, AM, and O&M services for the project, which will be sold under a 25-year PPA with EETC. The company has also signed equity bridge loans and is in discussions with potential equity partners. Scatec aims to support Egypt’s clean energy goals by delivering this important project.



Read more at GlobeNewswire: Scatec reaches financial close for the 1.1GW solar +