PVTIME – Scatec and the European Bank for Reconstruction and Development (EBRD) have set up a joint investment platform to fund renewable energy projects in Egypt. The EBRD has committed USD 221 million to the fund, which will finance a portfolio of solar, wind, and battery storage projects.
This includes USD 170 million in equity, as well as further support in the form of project guarantees. Scatec will be responsible for the development and operation of the assets, and the platform is designed to attract additional investors over time. The portfolio has a target capacity of 2.7GW of solar PV, 900MW of onshore wind and 4.2GWh of battery energy storage.
This partnership will support Egypt’s national energy transition objectives by expanding its low-carbon generation capacity and reducing its reliance on imported fossil fuels. This framework could also be rolled out in other southern and eastern Mediterranean markets in future. Key assets within the initial portfolio held by the new platform include the Obelisk solar complex and the Shadwan wind farm.
This financing arrangement provides a consolidated structure that lowers investment risk for large-scale renewable energy projects, thereby unlocking further capital for the expansion of clean energy across the country.
 have set up a joint investment platform to fund renewable energy projects in Egypt. The EBRD has committed…){kind=link}