Scatec ASA, a Norway-based renewable energy solutions provider, has signed shareholder agreements with Norfund and EDF power solutions for equity participation in the 1.1 GW solar and 100 MW / 200 MWh Obelisk hybrid project in Egypt. Scatec ASA said that the project is its largest construction start and is designed to support Egypt’s rising electricity demand. Following the agreements, Norfund was set to own 25 percent of the holding company while Scatec ASA retained 75% ownership. EDF power solutions was confirmed to hold 20% of the operating company, resulting in revised economic interests for all partners. Scatec ASA has stated it is pursuing additional partners to further optimise capital efficiency.