The European Bank for Reconstruction and Development has agreed to take a 40% stake in a new holding platform for Scatec's Egyptian renewable energy projects, committing up to US$221m, the Norwegian power producer said on 22 October 2026.
Why European Bank for Reconstruction and Development (EBRD) is buying 40% of Scatec's Egyptian renewable energy holding platform
Scatec said the partnership brings institutional capital and long-term commitment to its Egyptian portfolio, while the EBRD said its equity investment would help strengthen Egypt's energy security and reduce reliance on imported fossil fuels.
“This equity investment marks an important step in strengthening Egypt's energy security.”
Deal terms and financing
About US$170m of the EBRD commitment is equity, with the rest in project-level guarantees. The platform is expected to hold 40% of Obelisk, 51% of Shadwan and about 60% of Egypt Aluminium phase 1 and Energy Valley. Scatec remains lead sponsor, developer, EPC provider and asset manager, and other minority co-investors are expected.
Market context
PV Tech reported that Obelisk is a 1.1GW solar plant with a 100MW/200MWh battery, Shadwan a 900MW wind farm, and Energy Valley a 1.95GW solar project with storage, and that the platform may also invest elsewhere in the Middle East and North Africa.
