Scatec, a leading Norwegian renewable energy solutions provider, has reached the Commercial Operations Date (COD) for the second and final phase of its 1.1-gigawatt (GW) Obelisk solar and battery storage project in Nagaa Hammadi bringing the full project into operation.

“Completing Africa’s largest hybrid solar and battery installation demonstrates our ability to develop, finance, and deliver large-scale renewable energy projects in emerging markets,” said Terje Pilskog, CEO of Scatec.

“Obelisk will supply clean, reliable power to Egypt for 25 years and is a tangible contribution to the country’s energy security and transition,” he added.

The project was developed in two phases. The first phase includes 561 megawatts (MW) of solar capacity and the full 100 MW/200 megawatt-hour (MWh) battery storage system, while the second phase adds 564 MW of solar capacity.

The project is expected to generate more than 3,000 GWh of electricity annually, which will be supplied to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement (PPA) denominated in USD. The project will also reduce carbon dioxide (Co2) emissions by more than 1.2 million tons per year (mt/y), according to the company.

With the Obelisk project fully operational, along with Scatec’s 380 MW Benban solar plant, the company now has around 1.5 GW of renewable energy capacity in operation in Egypt.

Scatec stated that its near-term Egyptian portfolio includes more than 4.3 GW of renewable energy capacity and 4.1 GWh of battery storage capacity. The portfolio is expected to generate about 17 terawatt-hours (TWh) of electricity annually and provide grid stability support.

Scatec is the controlling shareholder of the Obelisk project, while the National Bank of Egypt, Norfund and EDF Power Solutions are minority equity partners.

The project was financed with support from the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), British International Investment (BII) and European Investment Bank (EIB), which acted as senior lenders.

In June 2026, Scatec announced plans to invest up to $5 billion in Egypt over the coming two years across several areas, including renewable energy-powered desalination, green data centers, solar and wind projects, battery energy storage systems (BESS), and infrastructure supporting the country’s green transition.

Scatec develops, builds, owns, and operates renewable energy plants, with 6.4 GW generation and 2 GWh storage capacity in operation and under construction across five continents.