African Development Bank to fund 1 GW solar power plant in Egypt

• 23 hours ago (2025-06-13)
• David Flin

Middle East 343 Solar 292 Storage 46

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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.

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.