About Total investment cost of factory solar storage project in Egypt
Total investment costs are estimated at US$590 million, with blended finance covering approximately 80 per cent of the total capital expenditure.
Total investment costs are estimated at US$590 million, with blended finance covering approximately 80 per cent of the total capital expenditure.
The project will deliver a 1.1 GW solar photovoltaic (PV) plant and a 200 MWh battery energy storage system (BESS) in the Nagaa Hammadi region of Upper Egypt. Total investment costs are estimated at US$590 million, with blended finance covering approximately 80 per cent of the total capital.
British International Investment (BII), the UK’s development finance institution and impact investor, the African Development Bank (AfDB) and European Bank for Reconstruction and Development (EBRD) are providing a total of US$ 479.1 million to Obelisk Solar Power SAE, a special-purpose vehicle.
The groups will invest a total of US$220 million into the project, and the Egyptian government noted that it expects construction and trial operation to take three years. The government also noted that the factory’s cells will be designated for “export to global markets”, which could be significant.
The European Bank for Reconstruction and Development (EBRD) is supporting Egypt ’s renewable-energy sector by providing a US$ 30 million equity bridge to Obelisk Solar Power, a special purpose vehicle owned by Scatec ASA, a leading global renewable energy developer and a key strategic client for.
The African Development Bank Group (AfDB) has approved a financing package worth up to $184.1m to support the development of the Obelisk solar photovoltaic project in Egypt’s Qena Governorate. The power project is the largest solar power plant in Africa and comprises a 1GW solar plant, along with a.
The African Development Bank Group (AfDB) has approved a financing package worth up to $184.1m to support the development of the Obelisk solar photovoltaic project in Egypt’s Qena Governorate. The power project is the largest solar power plant in Africa and comprises a 1GW solar plant, along with a.
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