AMEA Power has announced the financial close of the first-ever utility-scale Battery Energy Storage System (BESS) project in Egypt. The 300MWh BESS Project is an extension of AMEA Power’s existing operational 500MW solar PV plant in Aswan Governorate, Egypt, which was commissioned in December 2024. To facilitate the integration of the project into the operational 500MW solar PV plant, the 300MWh BESS Project will receive a substantial US $72mn debt package from the International Finance Corporation (IFC).
The signing ceremony, held between Samir Nacef, Chief Executive Officer of AMEA Power Egypt, and Cheick-Oumar, IFC Director for North Africa and the Horn of Africa, was attended by several Egyptian officials, including 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.
The milestone is said to mark a significant step forward in the strategic partnership between AMEA Power and IFC. The partnership encompasses not only the recently commissioned 500MW Amunet Wind Farm in Ras Ghareb, Egypt, but also extends beyond Egypt to projects such as the 120MWp solar PV plant in Metbassta, Tunisia. The integration of the BESS represents a pivotal moment in Egypt’s accelerated 4GW Emergency Renewable Energy Program. This government-led initiative aims to address rising electricity demand by leveraging affordable, clean energy solutions and reducing reliance on imported natural gas, said a statement from the firm.
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 added, “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 embarks on its journey towards renewable energy, projects like this utility-scale battery storage system play a crucial role in maintaining grid stability, enhancing the integration of renewable energy sources, and contributing to the country’s decarbonisation efforts, the statement concluded.
AMEA Power announces financial close of first utility-scale BESS project in Egypt Middle East Construction News.
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