The London-based EBRD development bank on 6 November announced that it plans to provide “an equity bridge loan of up to $120mn” to ‘Obelisk Solar Power’, a special purpose vehicle set up by Norwegian renewables developer Scatec. Approval is slated for 11 December.
The loan will “finance the construction and development” of a 1GW solar PV plant with a 200MWh battery energy storage system (BESS) located in Nag Hammadi, near Luxor in southern Egypt. (CONTINUED - 1033 WORDS)
