AfDB to fund Egypt’s Obelisk solar and battery storage project with $184.1 million The African Development Bank (AfDB) has approved a $184.1 million financing package for the development of the Obelisk 1-gigawatt solar photovoltaic project and a 200 mega watt (MW) battery energy storage system in Egypt. The project, estimated to cost more than $590 million, will be Africa’s largest solar power plant and is located in Qena Governorate in southern Egypt. The project, expected to come online by the third quarter of 2026, will generate an estimated 2,772 gigawatt-hours (GWh) of clean energy annually to the grid. The battery energy storage system will help meet peak evening demand with renewable power while also providing an alternative to the risks of solar power generation. Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation, said “the Obelisk solar project is another important milestone for Egypt under the energy pillar of the NWFE program which has since it