EDF power solutions has joined Obelisk, a hybrid project located in Egypt combining a 1.1 GW solar plant and a 100MW/200MWh battery storage plant located in the city of Nagaa Hammadi, near Luxor.
EDF power solutions has signed a shareholder agreement with Scatec (60%), a prominent renewable energy solutions provider partnering with Norfund (20%), the Norwegian investment fund for developing countries. With this transaction, EDF power solutions owns the remaining 20% of the project company.
Obelisk phase 1 commissioning is planned for the first half of 2026 and its phase 2 for the second half of the same year. The project will provide competitive electricity to the Egyptian grid through a 25-year Power Purchase Agreement and supports Egypt’s ambition to reach 42 GW of renewable energy by 2030.
The new project marks a step forward in EDF power solutions development in the country. It operates two plots in the Benban solar power plant, and is the largest shareholder of KarmSolar, a prominent solar utility company. EDF power solutions plans to support the country’s energy transition through renewables, storage and low carbon electricity production assets.
By bringing together the businesses of EDF Renewables and EDF Group International Division, EDF power solutions becomes an international energy player which develops, builds and operates renewable and low-carbon energy production facilities as well as flexible power and electricity transmission solutions. It currently operates 31 GW of gross installed power capacity worldwide.
