AfDB commits $184M to Africa’s largest solar and battery project in Egypt
- The African Development Bank approved a $184.1 million financing package for the Obelisk solar project in Egypt.
- The project will include a 1GW solar power plant and a 200MWh battery storage system.
- It aims to generate approximately 2,772 gigawatt-hours of clean energy annually.
The Obelisk solar project represents a significant step forward in Egypt's renewable energy landscape, showcasing the potential for large-scale investments in clean energy. However, the success of such projects will depend on effective implementation and the ability to attract further investments to meet ambitious targets.
