Highlights
- The 300MWh BESS Project achieved financial close and is set to be the first ever utility-scale BESS project in Egypt
- AMEA Power successfully constructed the project in record time of approximately 6 months from the signing of the project documents. The project is scheduled to be commissioned in July 2025.
- The 300MWh BESS Project is located in Kom Ombo, Aswan Governorate in Egypt
AMEA Power, one of the fastest-growing renewable energy companies in the region, has announced today the financial close of the first ever utility-scale Battery Energy Storage System (BESS) project located in Egypt. The 300MWh BESS Project is an extension of AMEA Power's operational 500MW Solar PV Plant in Aswan Governorate, Egypt, that was commissioned in December 2024.
The 300MWh BESS Project will receive a $72 million debt package from IFC which will finance the integration of the project into the operational 500MW Solar PV Plant.
The financing documents were signed between Samir Nacef, Chief Executive Officer of AMEA Power Egypt, and Cheick-Oumar, IFC Director for North Africa and the Horn of Africa. The signing ceremony was attended by H.E. Mostafa Madbouly, Prime Minister of Egypt; Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy of Egypt; Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation of Egypt; and Makhtar Diop, Managing Director of IFC.
This milestone further cements the strategic partnership between AMEA Power and IFC, which also the includes the recently commissioned 500MW Amunet Wind Farm in Ras Ghareb, Egypt. Additionally, the collaboration extends beyond Egypt to projects such as the 120MWp solar PV plant in Metbassta, Tunisia.
This BESS integration represents the first initiative to move forward under Egypt's accelerated 4GW Emergency Renewable Energy Program a government-led effort designed to address rising electricity demand by leveraging affordable, clean energy solutions and decreasing dependence on imported natural gas.
Hussain Al Nowais, Chairman of AMEA Power, said: "At AMEA Power, we are committed to transforming the energy landscape through innovation, speed, and local collaboration. Achieving financial close for Egypt's first utility-scale BESS project following the successful launch of our 500MW wind farm in Egypt is a clear demonstration of our ability to deliver large scale renewable energy projects. We are proud to play a leading role in supporting Egypt's energy transition and grid resilience."
Makhtar Diop, IFC's Managing Director said: "Meeting Egypt's rising energy demand - especially in the summer - requires bold solutions, and we are proud to deepen our collaboration with a ready-to-scale partner like AMEA Power. This investment delivers sustainable infrastructure that strengthens the grid today while laying the foundation for a cleaner, more resilient energy future in Egypt. This is modelling efficient transition - one that brings value for the country through advanced technologies and skills."
As Egypt continues to drive forward its ambitious renewable energy agenda, projects such as this utility-scale BESS are essential in ensuring grid stability, increasing renewable energy penetration, and supporting decarbonization efforts.
About AMEA Power
Headquartered in Dubai, AMEA Power is a developer, investor, owner and operator of renewable energy projects. As one of the fastest-growing renewable energy companies in the region, AMEA Power has assembled a world-class team of industry experts to deliver projects across Africa, the Middle East, and emerging Asia. With projects in 20 countries, a 6GW+ project pipeline, and 2,600MW+ in operation and under construction, the company is rapidly expanding its investments in wind, solar, energy storage, and green hydrogen, demonstrating its long-term commitment to the global energy transition.
Contacts:
E-mail: Barbro.Ciakudia@ameapower.com
Landline: +971 (0) 4 310 7050
For more information, please visit: www.ameapower.com
