EBRD backs Egypt’s first solar, battery storage project with $30mln equity bridge loan

EBRD Funds US$ 30 Million Solar and Storage Project in Egypt to Enhance Clean Energy Infrastructure

EBRD Funds US$ 30 Million Solar and Storage Project in Egypt to Enhance Clean Energy Infrastructure (IN BRIEF) The EBRD is providing a US$ 30 million equity bridge loan to Scatec ASA’s Obelisk Solar Power project in Egypt. The loan will finance the construction of a 1 GWac solar plant and 200 MWh battery storage system in Nagaa Hammadi, Egypt. This project, part of Egypt’s Nexus on Water, Food, and Energy initiative, aims to reduce CO2 emissions…

EBRD backs Egypt’s first solar, battery storage project with $30mln equity bridge loan

Once operational, the hybrid plant is expected to reduce CO₂ emissions by approximately 1.357 million tonnes annually

EBRD backs Egypt’s first solar, battery storage project with $30m equity bridge loan

The European Bank for Reconstruction and Development (EBRD) has announced a $30m equity bridge loan to Obelisk Solar Power, a special purpose vehicle owned by Scatec ASA, a global leader in renewable energy and a long-term strategic partner of the Bank. The financing will support the equity requirements for the construction of

Egypt Lights the Way with EBRD Funded Solar and Battery Storage Project Egypt Lights the Way with EBRD Funded Solar and Battery Storage Project

Egypt Lights the Way with EBRD Funded Solar and Battery Storage Project Egypt is charging ahead on its renewable energy ambitions with a game-changing project in Nagaa Hammadi that combines solar power with battery energy storage technology. The European Bank for Reconstruction and Development (EBRD) has stepped up to provide a vital US$30 million equity bridge to Obelisk Solar Power, a special purpose vehicle owned by global renewables giant Sc…

EBRD backs Egypt’s first solar and battery storage project

(Credit: Unsplash) This article is brought to you in association with EBRD. EBRD making US$ 30 million equity bridge loan to Obelisk Solar Power, a project company owned by Scatec ASA Facility to finance a new 1 GWac solar plant with 200 MWh of battery storage EBRD project falls under Egypt’s Nexus on Water, Food and Energy programme and is expected to reduce CO2 emissions by 1.3 million tonnes per year The European Bank for Reconstruction and …