- UAE’s AMEA Power has reached financial close on 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.
Author: Bryan Groenendaal
