Scatec has reached commercial operations date (COD) for the second phase of the Obelisk solar and battery storage project in Egypt. The second phase of the project adds 564 MW of solar capacity, taking the total project solar capacity to 1.1 GW alongside the 100 MW/200 MWh BESS. Furthermore, the project is expected to generate more than 3,000 GWh of clean electricity annually which will be supplied to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement.
With the addition of this project, Scatec now has approximately 1.5 GW of operational capacity in Egypt. Scatec is the controlling shareholder, with National Bank of Egypt, Norfund and EDF Power Solutions as minority partners, while European Bank for Reconstruction and Development, African Development Bank, British International Investment and European Investment Bank acted as senior lenders for the project financing.
In July 2026, Scatec ASA commenced commercial operations of the 142 MW Rio Urucuia solar power plant in Minas Gerais, Brazil. This project expanded Scatec’s Brazilian installed capacity to 835 MW. The project operates under a 10-year power purchase agreement (PPA) with Statkraft, covering around 75 per cent of expected generation, with the remaining output to be sold through the spot market and additional PPAs.