Dubai-based renewable energy company AMEA Power has achieved financial close for its first ever utility-scale 300MWh battery energy storage system (BESS) in Egypt.
The firm said it has successfully constructed the project in a record time of approximately six months from the signing of the project documents.
It is said to be an extension of the company’s operational 500MW solar photovoltaic (PV) plant located in Kom Ombo, Aswan Governorate.
The 300MWh BESS is set to receive a $72 million debt package from the World Bank-owned International Finance Corporation (IFC) which will finance the integration of the project into the 500MW Solar PV Plant.
It is the first project to be implemented under the Egyptian Government’s fast-track 4GW emergency renewable energy programme, which is designed to reduce reliance on imported natural gas.
The BESS is said to be currently under commissioning and is scheduled to come online by July 2025.
The IFC states that the BESS will deliver 100,000MWh and reduce nearly 20,000 tons of carbon dioxide emissions annually.
Hussain Al Nowais, chairman, AMEA Power, said: “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, managing director, IFC, 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.”
Image: The signing of the financial agreement for the 300MWh BESS. Credit: AMEA Power.
