Norwegian renewables developer Scatec has reached Commercial Operations Date (COD) for the second and final phase of its 1.1 GW Obelisk solar-plus-storage project in Egypt, wrapping up what is now Africa's largest hybrid solar-and-battery installation.
Two Phases, One Grid Anchor
Phase 1 came online earlier in 2026 with 561 MW of solar PV and the full 100 MW / 200 MWh battery storage system. Phase 2 adds another 564 MW of PV, bringing the plant to 1,125 MW of solar plus the co-located battery. The 25-year, USD-denominated PPA was signed with the Egyptian Electricity Transmission Company (EETC) in November 2024.
Clean Power, Emissions Abated
Obelisk is projected to deliver more than 3,000 GWh of clean electricity annually and abate over 1.2 million tonnes of CO2 emissions per year. Scatec holds the controlling stake alongside minority partners National Bank of Egypt, Norfund and EDF Power Solutions. Senior lenders include EBRD, AfDB, BII and EIB.
Egypt Becomes A Core Growth Market
With Obelisk fully operational alongside the 380 MW BenBan plant, Scatec now has roughly 1.5 GW in operation in Egypt. Its near-term pipeline in the country stretches to more than 4.3 GW of generation and 4.1 GWh of storage — a full 17 TWh of clean electricity annually once built out. The country is emerging as a MENA storage hub, echoing the multi-day storage push captured in coverage of Form Energy's $750M Series G and Ore Energy's Series A.
Reporting based on coverage from Scatec ASA and Energy-Storage.News.