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African Development Bank to fund 1 GW solar power plant in Egypt
- 6 months ago (2025-06-13)
- David Flin
The African Development Bank has approved €170 million of funding to support the construction of the 1 GW Obelisk 1 solar power and 200 MWh battery energy storage project in Qena Governorate in southern Egypt. This is believed to be Africa’s largest solar power project.
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The project involves the design, construction, operation, and maintenance of a solar power plant with a battery energy storage system. The total cost of the project is estimated at €500 million. The project is expected to be operational by Q3 2026.
The Egyptian Electricity Transmission Company has signed a 25-year PPA and will be the sole off-taker.