AfDB Commits $184 Million to Egypt’s Solar and Battery Storage Project

The African Development Bank (AfDB) has approved up to $184.1 million to support Egypt’s Obelisk 1 GW Solar project with 200 MWh battery storage, the largest in Africa. Located in Qena, it will supply 2,772 GWh annually, cut 1 million tons of CO₂, and create 4,000 construction jobs. Costing $590+ million, it aligns with Egypt’s NWFE program and aims for 42% renewable energy by 2030.