Scatec completes Africa’s largest hybrid solar and battery project in Egypt with 1.1 GW Obelisk reaching full commercial operations

Scatec has announced the Commercial Operations Date for the second and final phase of its Obelisk project in Egypt, bringing the installation to its full capacity of 1.1 GW of solar power paired with 100 MW/200 MWh of battery storage. That makes Obelisk Africa’s largest hybrid solar and battery project—and it got there fast. The Power Purchase Agreement was only signed in November 2024, and the project reached full operations in what Scatec calls record time.

Obelisk project reaches full commercial operations

The second phase adds 564 MW of solar capacity, pushing the total to 1.1 GW of solar paired with 100 MW/200 MWh of battery energy storage. That combination is what earns it the title of Africa’s largest hybrid solar and battery installation—a record that now belongs to Egypt.

Scatec CEO Terje Pilskog called it “a defining milestone.” Completing the project, he said, “demonstrates our ability to develop, finance, and deliver large-scale renewable energy projects in emerging markets.” With the PPA signed less than two years before full operations, the timeline is genuinely striking.

Scatec served as the controlling shareholder throughout, with minority equity partners including the National Bank of Egypt, Norfund, and EDF Power Solutions.

Project structure and phased construction

Obelisk went up in two distinct phases. Phase one brought online 561 MW of solar capacity along with the full 100 MW/200 MWh battery storage system, while phase two added the remaining 564 MW of solar—getting the installation to its full 1.1 GW.

Scatec served as the controlling shareholder throughout, with minority equity partners including the National Bank of Egypt, Norfund, and EDF Power Solutions. That mix of local and international investors reflects the broader appetite for Egypt’s energy sector.

Development finance institutions played a significant role on the lending side. The European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), British International Investment (BII), and the European Investment Bank (EIB) all came in as senior lenders—a lineup that signals serious institutional confidence in the project.

Scatec also ran Obelisk through its fully integrated business model, covering Engineering, Procurement and Construction (EPC), Asset Management (AM), and Operations & Maintenance (O&M) across the full lifecycle. That end-to-end approach is central to how the company executes at scale in emerging markets.

Energy output and emissions impact

The numbers here are worth sitting with. Obelisk is projected to deliver over 3,000 GWh of clean energy annually—enough to make a real dent in Egypt’s electricity mix.

All of that power flows to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement denominated in US dollars. Long-term, USD-denominated revenue structures like this give the project financial stability and signal the kind of investor confidence that large infrastructure deals in emerging markets typically need to get off the ground.

Obelisk is expected to abate more than 1.2 million tonnes of CO2 per year. Stretched across a 25-year operational life, that’s a substantial cumulative impact. Pilskog put it directly: the project “will supply clean, reliable power to Egypt for 25 years and is a tangible contribution to the country’s energy security and transition.” The word “reliable” matters—the battery storage component helps stabilize output, making this a dispatchable asset rather than just a solar farm.

Scatec’s broader footprint and growth pipeline in Egypt

With Obelisk fully operational, the Scatec Group now runs approximately 1.5 GW of capacity in Egypt, combining the new 1.1 GW installation with the company’s existing 380 MW BenBan solar plant, which has been operating in the country for several years.

The pipeline goes well beyond what’s already running. Scatec’s near-term growth portfolio in Egypt includes more than 4.3 GW of additional renewable energy capacity and 4.1 GWh of battery storage. Add that to current operational assets, and the combined portfolio is expected to deliver around 17 TWh of clean electricity annually, while also providing grid stability support.

Egypt has become one of Scatec’s most strategically important markets. Strong solar resources, rising energy demand, and a government pushing hard on renewables all fit the company’s model well—and Obelisk, built at speed and at scale, makes that long-term bet pretty clear.

3,000 GWh of clean energy per year

Scatec has reached full commercial operations for the second and final phase of the Obelisk project in Egypt, bringing the total installation to 1.1 GW of solar capacity paired with 100 MW/200 MWh of battery storage. The project is now Africa’s largest hybrid solar and battery installation. It’s expected to generate over 3,000 GWh of clean energy per year, supply electricity to the EETC under a 25-year USD-denominated PPA, and abate more than 1.2 million metric tons of CO2 annually. With Obelisk online alongside BenBan, Scatec operates roughly 1.5 GW in Egypt—and has a pipeline of more than 4.3 GW of additional capacity in the country still to come.

Kelly is an experienced writer with 15 years of experience exploring the big stories that shape our world, from tech breakthroughs and space exploration to climate, energy, and the fascinating quirks of science. She has a talent for turning complex ideas into sharp, memorable insights that stay with readers long after they’ve finished reading.