Good afternoon, friends. Winter has brought with it cold news cycles — we’re experiencing another calm week in the press, but there’s still much ground to cover. Let’s dive in.

THE BIG STORY TODAY-

📍 Norwegian investment fund Norfund and French energy giant EDF acquired stakes in Scatec’s USD 600 mn Obelisk solar project, under shareholder agreements for equity partnerships inked between the parties, the Norwegian energy player said in a statement. Bringing on equity partners is part of Scatec’s plan to “enhance capital efficiency and increase value creation,” it said.

But despite bringing on more partners, Scatec will maintain its economic control of the project, with France’s state owned power company EDF now holding a 20% stake in the operating company, alongside Norwegian Foreign Ministry-run Norfund with 20% and Scatec with 60%. Norfund also acquired 25% of the Obelisk holding company, with Scatec retaining a 75% stake. The values of the transactions were not disclosed.

In case you didn’t know, the project in Nagaa Hammadi holds the mantle of being Africa’s largest under-construction solar power plant. The first phase will bring 561 MW of solar energy and 200 MWh of battery storage online in the first half of 2026 and the second phase will add another 564 MW of solar power in the second half of 2026.

Scatec is hoping to see more partners come on board, with advanced talks with additional partners ongoing.

THE BIG STORY ABROAD-

🌐 It’s another relatively calm day in the global press, with a handful of stories making the rounds. Among the ones getting plenty of ink:

A water leak at the Louvre Museum has damaged hundreds of rare books in the Egyptian antiquities department, highlighting what the New York Times describes as ongoing infrastructure problems at the world’s most visited museum. The incident affected between 300-400 documents, according to Francis Steinbock, the museum’s deputy administrator, and originated from a deteriorating water pipe in one of the three library rooms within the Egyptian antiquities department.

This incident is the latest in a string of problems plaguing the museum, the most recent being French unions calling for a rolling strike starting 15 December over deteriorating working conditions and a lack of resources. (Reuters | NYT | Bloomberg)

Tensions flared between President Donald Trump and Ukrainian President Volodymyr Zelenskyy on Sunday, as the US leader accused his Ukrainian counterpart of failing to read the latest US-backed peace proposal to end the war with Russia.

The criticism came one day after talks between the US and Ukrainian officials in Miami ended without agreement on the latest version of a draft peace plan. It’s unclear which version of the peace plan Trump referenced, as multiple iterations have emerged as Russia and Ukraine argued through US intermediaries over key details, particularly regarding territorial concessions and security guarantees.

Zelensky is set to meet with UK Prime Minister Keir Starmer, French President Emmanuel Macron, and German Chancellor Friedrich Merz in discussions focused on “ongoing peace negotiations and next steps,” according to 10 Downing Street. Additional meetings are scheduled in Brussels and Rome this week. The UK and France have been leading advocates of a group of countries that could deploy a “reassurance force” in post-war Ukraine to help guarantee its security. However, Russian President Vladimir Putin has vehemently opposed any foreign troop presence, calling such forces “legitimate targets.” (CNBC | CNN)

Another Trump-brokered deal has cracked under pressure, with Thailand launching airstrikes against Cambodia earlier today. Skirmishes erupted along their disputed border, threatening to unravel a peace agreement presided over by Trump just two months ago. Both nations accused each other of initiating the violence after weeks of mounting tensions and Thailand’s earlier suspension of progress on the ceasefire agreement. Thailand and Cambodia have contested sovereignty along their 800 km land border for more than a century, a territorial dispute that largely stems from a map drawn up by France during its colonization of Cambodia, which Thailand does not accept. (CNN | Reuters)

☀️ TOMORROW’S WEATHER- We’re in for a cool, breezy day in the capital tomorrow, with the mercury set to peak at just 22°C before cooling down to 15°C, according to our favorite weather app.

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