CAIRO, Jan. 12 (Xinhua) -- Egypt on Monday inaugurated the first phase of the Obelisk Solar Power Project in Qena governorate, southern Egypt, with an investment valued at 600 million U.S. dollars.
The plant spans over 20 square kilometers and has an initial capacity of 500 megawatts, along with a battery energy storage system capable of storing 200 megawatt-hours, according to a government statement.
The second phase of the project, also with 500-megawatt capacity, is scheduled to start in May, it added.
Once completed, the total project, developed by Norwegian firm Scatec, is expected to reach 1,000 MW, making it one of Africa's largest solar-plus-storage initiatives, said the statement.
The inauguration ceremony included senior government officials and delegations from key international financing partners associated with the project, including the European Bank for Reconstruction and Development, the European Investment Bank, and the African Development Bank.
The project is expected to create around 5,000 jobs and supply electricity to about 1.6 million homes, said the statement. ■