African Development Bank Greenlights $184.1M to Back Africa’s Largest Solar Power Facility in Egypt

African Development Bank greenlights $184.1M to back Africa’s largest solar power facility in Egypt

Cairo – June 12, 2025: The African Development Bank (AfDB) Group has approved a financing package of up to $184.1 million to back the development of the Obelisk solar project in southern Egypt. Once completed, the project will stand as Africa’s largest solar power facility, with a capacity of 1 gigawatt. It will also feature a 200 MWh battery energy storage system to enhance grid stability and ensure a more consistent flow of renewable energy. T…

AfDB approves $184.1mn financing package for Obelisk Solar PV Project in southern Egypt

The African Development Bank (AfDB) has approved a $184.1mn financing package to support the Obelisk Solar PV Project in Qena, southern Egypt, the largest of its kind on the continent.

AfDB funds $184M Obelisk solar project in Egypt

The African Development Bank (AfDB) has approved a $184.1 million financing package for the Obelisk 1GW solar and 200MWh battery storage project in Egypt, the largest of its kind in Africa. Set in Qena Governorate, the project aims to expand clean energy access, reduce emissions, and support Egypt’s transition toward a low-carbon economy. The project involves the complete design and development of a photovoltaic power plant, including a 200 MWh …

African Development Bank part-funds Egypt's solar project

The African Development Bank Group (AfDB) has approved up to $184.1 million in financing for Egypt’s Obelisk solar power and battery storage project. The project involves the construction and operation of a one gigawatt )GW) solar photovoltaic plant and a 200-megawatt-hour battery energy storage system in south Egypt. The project’s total cost is estimated at more than $590 million and is being constructed by Norwegian renewable energy producer S…

AfDB Approves $184m for Egypt’s Obelisk Solar Project to Boost Clean Energy Transition - Innovation Village | Technology, Product Reviews, Business

The African Development Bank (AfDB) has approved a significant financing package of $184.1 million to support Egypt’s ambitious Obelisk 1-gigawatt (GW) solar photovoltaic (PV) project and 200MWh battery energy storage system, reinforcing the country’s deepening commitment to renewable energy. While notable, the Obelisk project follows in the footsteps of Egypt’s landmark Benban Solar Park in Aswan, which remains the continent’s largest with a ca…

Inside Africa's Largest Solar Energy and Battery Storage Project

he Board of Directors of the African Development Bank Group has approved a financing package of up to $184.1 million to support the development of the Obelisk 1-gigawatt solar photovoltaic project and 200MWh battery energy storage system in Egypt, which will be Africa’s largest solar power plant.