Scatec, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the African Development Bank (AfDB) have signed an investment agreement for Dandara solar-plus-storage project in Egypt.

Egypt’s Minister of Industry laid the foundation stone at Sungrow’s BESS factory site in the Suez Canal Economic Zone earlier this week.

Scatec has started full commercial operations at its gigawatt-scale Obelisk solar-plus-storage project in Egypt.

The European Bank for Reconstruction and Development (EBRD) will provide project financing for large-scale solar and storage projects in Egypt and Hungary, for project owners HAU Energy/Infinity Power and Renalfa respectively.

DNV has forecast that the MENA region will add 860GW of new solar PV by 2040, and energy storage capacity will grow 10x by 2030.

The World Bank’s International Finance Corporation has agreed a financing package for a 1GW solar PV power plant paired with 600MWh of energy storage in Egypt.  

Two major Middle East and North Africa (MENA) region projects combining solar PV and battery storage have progressed in Saudi Arabia and Egypt through ACWA Power and Scatec, respectively.

Hassan Allam Utilities and Infinity Power have signed agreements with Egypt’s Ministry of Electricity and Renewable Energy and the Egyptian Electricity Transmission Company for two renewable energy projects in the country.  

AMEA Power has completed commissioning of the first large-scale battery energy storage system (BESS) in Egypt, ahead of the start of commercial operations.

The financial close of two significant large-scale projects in Egypt could mark progress for the country’s nascent energy storage sector.