Scatec signs equity deals with Norfund and EDF power solutions

Scatec has entered into shareholder agreements with Norwegian investment fund Norfund and EDF power solutions, a global developer and operator of renewable and low-carbon power assets, to establish an equity partnership for Scatec’s Obelisk project in Egypt. Located in Naga Hammadi in Upper Egypt, the Obelisk project is a hybrid installation combining 1.1GW of solar capacity with a 100MW/200MWh battery energy storage system. The Climate Investment Fund, managed by Norfund, has pledged Nkr400m ($39.55m) t ...