Norwegian renewables specialist Scatec has farmed out a 20% equity stake at its 1.1GW solar and storage Obelisk project in Egypt to the National Bank of Egypt, the firm announced on 6 May.
“We are very pleased to welcome National Bank of Egypt as an equity partner in the Obelisk project. Having Egypt’s largest bank join the project further strengthens the industrial and financial foundation of Obelisk and underlines the strong local support for this landmark renewable energy development,” Scatec CEO Terje Pilskog said. (CONTINUED - 186 WORDS)
