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EDF power solutions joins a 1.1GW solar and storage project in Egypt

EDF power solutions acquires a 20% stake in Obelisk, a 1.1GW hybrid solar and storage project in Egypt led by Scatec and Norfund, marking a new milestone in its regional strategy.

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EDF power solutions has signed a shareholder agreement to join the Obelisk project, a 1.1GW hybrid energy complex combining solar production and battery storage, located in Nagaa Hammadi in southern Egypt. The project consists of a 1.1GW solar plant and a 100MW/200MWh storage system. The transaction secures a 20% stake for EDF power solutions, alongside Scatec, holding 60%, and Norfund, the Norwegian investment fund for developing countries, with a 20% share.

Commissioning scheduled in two phases in 2026

Obelisk is scheduled to be commissioned in two phases during 2026: the first in the first half of the year, followed by the second in the second half. The electricity generated will be sold to the national Egyptian grid under a 25-year Power Purchase Agreement (PPA). The project supports Egypt’s national objective to reach 42GW of renewable capacity by 2030.

EDF power solutions strengthens operations in Egypt

EDF power solutions thus consolidates its footprint in the country, where it already holds two plots in the Benban solar park, one of the world’s largest solar complexes. The company is also the main shareholder of KarmSolar, an Egyptian firm specialising in off-grid solar solutions.

The Obelisk project further anchors EDF power solutions in the Egyptian energy market by expanding its portfolio of low-carbon assets. According to Bénédicte Regnier, Executive Vice-President Africa at EDF power solutions, this investment reflects the continuity of the company’s engagement in local energy development.

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