Paris, 09/12/2025 – EDF power solutions enters Obelisk, an hybrid project located in Egypt combining a 1.1GW solar plant and a 100MW/200MWh battery storage located in the city of Nagaa Hammadi, close to Louxor.

EDF power solutions signed a shareholder agreement with Scatec (60%), a leading 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. This project will provide competitive electricity to the Egyptian grid through a 25-year PPA agreement.  It supports Egypt’s ambition to reach 42GW of renewable energy by 2030.

This new project marks a step forward in EDF power solutions development in the country. The company operates two plots in the Benban solar power plant and is the largest shareholder of KarmSolar, a leading solar utility company. EDF power solutions is committed to supporting the energy transition of the country through renewables, storage and low carbon electricity production assets.

Bénédicte Regnier, EDF power solutions Executive VP Africa said: “EDF power solutions is thrilled to announce this partnership with Scatec and Norfund in Egypt. After its investment in Benban and in KarmSolar, and alongside with promising development in green hydrogen, EDF power solutions investment into the Obelisk project is another demonstration of its long-standing relationship with Egypt.”