technology

Scatec's Solar Project in Egypt Could Save $400 Million Annually on LNG

19 Haziran 2026Bllomberg

Scatec ASA's Obelisk solar and battery storage project in Egypt is projected to save the country approximately $400 million annually in liquefied natural gas imports. This significant financial benefit was highlighted by the company's CEO, Terje Pilskog.
The project represents a strategic shift towards renewable energy sources in Egypt's energy landscape.
Egypt has been heavily reliant on liquefied natural gas imports to meet its energy demands. The introduction of large-scale solar projects like Obelisk is part of a broader strategy to diversify energy sources and enhance sustainability.
The financial savings from the Obelisk project underscore the growing viability of solar energy as a competitive alternative to traditional fossil fuels. As Egypt seeks to reduce its dependency on imported LNG, the success of this initiative could serve as a model for other nations aiming to transition to greener en…

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This article is for informational purposes only and does not constitute financial advice.

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