UK's BII backs Egypt’s first solar-plus-storage project, deepens climate push

British International Investment (BII), UK’s development finance institution, is backing Egypt’s first utility-scale hybrid solar and battery energy storage (BESS) project.

Sherine Shohdy, Head of Office and Coverage Director, BII, Egypt told Zawya Projects that the 1.1-gigawatts (GW) Obelisk development by Norway’s Scatec marks a milestone for Egypt’s clean energy ambitions.

She said the integrated solar photovoltaic (PV) and BESS project directly supports Egypt’s target of generating 42 percent of its electricity from renewables by 2030.

“Once operational, the Obelisk solar and battery storage project will produce 3,000 GWh of clean electricity each year, avoiding 1.4 million tonnes of carbon emissions,” she said. “The 200 MWh battery storage system will help stabilise the grid, ensuring renewable energy is available when it is most needed.”

Shohdy said the project, which power homes and businesses with reliable green energy, will boost economic output, support resilience, and help create skilled jobs that define the future of work.

In June 2025, Scatec had announced that the project is being developed in two phases with the first phase scheduled to achieve commercial operation in the first half of 2026.