PARIS, Dec. 9, 2025 — EDF power solutions has joined the Obelisk project in Egypt, a hybrid development integrating a 1.1-gigawatt solar facility with a 100MW/200MWh battery energy storage system near Luxor in Nagaa Hammadi.
The company has executed a shareholder agreement with Scatec, which holds a 60% stake, and Norfund, the Norwegian investment fund for developing countries, which holds 20%. Through this deal, EDF power solutions acquires the remaining 20% ownership in the project company.
The initial phase of the Obelisk project is scheduled to become operational in the first half of 2026, with the second phase following in the latter half of the year. Under a 25-year Power Purchase Agreement (PPA), the project will supply cost-competitive power to Egypt’s national grid, aiding the country’s goal of achieving 42 gigawatts of renewable energy capacity by 2030.
This venture represents an advancement for EDF power solutions’ operations in Egypt. The company manages two sites at the Benban solar plant and is the primary shareholder in KarmSolar, a major solar utility firm. EDF power solutions is dedicated to aiding the nation’s shift to cleaner energy via renewable generation, storage assets, and low-carbon power production.
Bénédicte Regnier, Executive Vice President for Africa at EDF power solutions, stated: “EDF power solutions is delighted to reveal this collaboration with Scatec and Norfund in Egypt. Following our investments in Benban and KarmSolar, and concurrent with promising green hydrogen initiatives, our commitment to the Obelisk project further underscores our enduring partnership with Egypt.“
About EDF power solutions
EDF power solutions is a global energy entity formed by combining EDF Renewables and the EDF Group International Division. It focuses on developing, constructing, and operating renewable and low-carbon power generation, alongside flexible power and transmission solutions.
A key contributor to the global energy transition, EDF power solutions implements competitive, responsible, and value-generating projects under the EDF umbrella. Across 25 nations, its teams consistently engage with local communities, applying their specialized knowledge and innovative capabilities to combat climate change.
The company manages a global portfolio of 31 gigawatts in gross installed capacity. Utilizing its technical, commercial, and local market expertise, EDF power solutions creates innovative solutions to promote decarbonization and enhance the efficiency of electrical grids.
EDF power solutions provides a broad spectrum of technologies for low-carbon electricity production (including wind, solar, hydro, and biomass), for enhancing grid flexibility (such as battery storage, pumped storage, and hybrid thermal solutions), and for helping customers lower their carbon emissions (through e-mobility, hydrogen, off-grid, and mini-grid systems).
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SOURCE EDF power solutions