EDF Power Solutions Partners with Scatec in Egypt
EDF power solutions has recently entered an exciting venture known as the Obelisk project. This ambitious initiative combines a 1.1GW solar plant with a state-of-the-art 100MW/200MWh battery storage facility. Located in the vibrant area of Nagaa Hammadi, the project aligns with Egypt's energy ambitions and aims to contribute significantly to the local grid.
Collaboration with Leading Energy Providers
In this significant project, EDF power solutions has signed a shareholder agreement with prominent partners, including Scatec, which holds a substantial 60% ownership in the project. The venture also involves Norfund, the Norwegian investment fund dedicated to fostering sustainable development in emerging markets, which owns 20% of Obelisk.
This collaboration allows EDF power solutions to own the remaining 20% of the project, strengthening its position in renewable energy within the region. This partnership exemplifies a commitment to innovation and sustainability in energy production.
Timeline and Impact of the Project
The project is set to kick off its first phase commissioning in the first half of the year 2026, with further developments planned for the latter half of the same year. The Obelisk project is strategically designed to enhance Egypt's electricity supply through a long-term Power Purchase Agreement (PPA), which spans over 25 years. As a part of Egypt's broader goal to attain 42GW of renewable energy by 2030, this initiative reflects a profound commitment to increasing green energy output.
EDF Power Solutions' Commitment to Egypt
EDF power solutions’ involvement in the Obelisk project signifies a critical progression of its initiatives in Egypt. The company has already established a strong presence in the region, managing two plots in the renowned Benban solar power plant and holding a major stake in KarmSolar, a leading player in the solar utility landscape in Egypt.
Bénédicte Regnier, Executive VP of EDF power solutions Africa, expressed enthusiasm about this new venture. Regnier noted, "EDF power solutions is thrilled to announce this partnership with Scatec and Norfund in Egypt. This investment in the Obelisk project illustrates our ongoing commitment to supporting the energy transition in this vital market, building on our previous investments in Benban and KarmSolar, as well as our promising developments in green hydrogen projects."
About EDF Power Solutions
EDF power solutions is a significant player in the international energy landscape, combining the strengths of EDF Renewables and the EDF Group International Division. The company specializes in developing, constructing, and operating renewable and low-carbon energy facilities, alongside offering flexible power generation and electricity transmission solutions.
As a global force in the energy transition, EDF power solutions is dedicated to delivering competitive and responsible energy projects across 25 countries. Their commitment to local stakeholders and innovation positions them at the forefront of tackling climate change effectively.
Global Operations and Versatile Offerings
With an impressive operational capacity of 31GW of gross installed power globally, EDF power solutions leverages its technological expertise and local insights to craft innovative energy solutions. Their extensive portfolio includes various technologies like wind, solar, and biomass, all aimed at producing low-carbon electricity.
Additionally, the company is advancing energy system flexibility through initiatives such as battery storage and carbon-efficient hybrid thermal solutions. Their mission also encompasses lowering carbon footprints for customers through diverse solutions including electrical mobility, hydrogen production, and off-grid systems.
Frequently Asked Questions
What is the Obelisk project?
The Obelisk project is a hybrid initiative combining a 1.1GW solar plant and a 100MW/200MWh battery storage facility in Nagaa Hammadi, Egypt.
Who are the partners involved in the Obelisk project?
The project involves EDF power solutions, Scatec, and Norfund, with Scatec owning 60%, Norfund 20%, and EDF power solutions retaining 20%.
What is the timeline for the Obelisk project?
The project plans to begin its first phase commissioning in early 2026 and follow with the second phase later that same year.
How does the Obelisk project support Egypt's energy goals?
This project is a vital part of Egypt's plan to reach 42GW of renewable energy capacity by 2030, contributing significant electricity to the grid.
What is EDF power solutions’ broader commitment?
EDF power solutions is dedicated to advancing the energy transition globally, supporting sustainable developments and providing innovative low-carbon energy solutions.
