According to local news reports, the tender attracted 76 bidders with quoted prices ranging from US$60-82 per kWh, averaging US$66. . The EBRD has provided a $30 million equity bridge loan for Egypt's first major hybrid renewable energy project in Nagaa Hammadi, combining 1. 1 GW of solar power with a 100 MW/200 MWh battery storage system. Construction has started, led by Norwegian developer Scatec through Obelisk Solar Power. . A consortium of development banks including British International Investment (BII), the African Development Bank (AfDB) and the European Bank for Reconstruction and Development (EBRD) is providing $479. 023 per kilowatt-hour, while projects where the government owns the solar plants but investors provide the storage capacity will have a lower rate of $0. Prices for the successful bids range from €0. 0878 ct/kWh with an average price of Earlier in May 2025, Scatec ASA commenced construction of its 1.
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