Scatec expands African renewable footprint with Egypt and Tunisia projects

Scatec has reached major milestones for renewable energy projects in Egypt and Tunisia. In Egypt, the company has brought the final phase of the 1.1GW Obelisk solar and 200MWh battery energy storage project into commercial operation. Located in the Qena Governorate, Obelisk is described as Africa’s largest hybrid solar and battery installation. The project is expected to generate over 3,000GWh of electricity annually and avoid 1.2 million tonnes of CO2 emissions each year under a 25-year power purchase agreement with the Egyptian Electricity Transmission Company.

In Tunisia, Scatec has reached financial close for the 120MW Sidi Bouzid II solar plant. Developed in partnership with Aeolus SAS, a subsidiary of Toyota Tsusho Group, the project has an estimated capital expenditure of 96 million euros. The plant is expected to produce 276 GWh of electricity annually, contributing to Tunisia’s goal of reaching 35% renewable power generation by 2030. Scatec will hold a 50% stake in the Tunisian project, with financing provided by the European Bank for Reconstruction and Development and the European Investment Bank.