Scatec ASA has reached financial close for the Obelisk hybrid solar and battery storage project in Egypt, backed by $479.1 million in non-recourse financing from EBRD, AfDB, and BII. The project’s total capex is $590 million. It includes two phases: 561 MW Solar + 100 MW/200 MWh Battery by early 2026, and 564 MW Solar by late 2026.
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