The largest single-site renewable energy and battery storage facility in Africa, setting a new continental benchmark for utility-scale clean power.

Dubai, UAE – AMEA Power, one of the fastest-growing renewable energy companies in the region, together with Kyuden International Corporation of Japan, today announced a partnership with the International Finance Corporation (IFC) and other partners to deliver a large-scale solar PV and battery energy storage project, supporting Egypt’s energy security and power system resilience. 

With a total project cost of over USD 700 million, the project comprises a 1,000 MW solar PV plant combined with a 600 MWh battery energy storage system (BESS) in the Aswan Governorate, Egypt. Once operational, it will become Africa’s largest single-asset renewable energy facility and battery storage project.

The project is jointly owned by AMEA Power (60%) and Kyuden International Corporation (40%), and is expected to reach commercial operation in June 2026.

Strategic Early Mobilisation 

Recognising the strategic importance of the project, AMEA Power proactively initiated early construction works ahead of the full finalisation of the project financing. This approach reflects AMEA Power’s commitment to supporting Egypt in meeting growing electricity demand with clean, reliable and resilient energy solutions.

The project is financed through an approx. USD 570 million senior debt package led by the IFC, comprising its own account and funds mobilised from international partners Cassa Depositi e Prestiti (CDP), FMO, DEG, British International Investment (BII), the OPEC Fund for International Development, and Europe Arab Bank (EAB).

The financing structure is further supported by concessional blended finance, loan from the Clean Technology Fund (CTF) and the MENA Private Sector Development Program, supported by the Government of the Netherlands, with IFC acting as the implementing entity for both facilities.

Strengthening Leadership  

By integrating utility-scale solar PV with battery energy storage, the project further positions AMEA Power at the forefront of next-generation renewable energy development. With 1,000 MW of solar and 600 MWh of battery storage, the project represents a flagship investment for the company and reinforces Egypt’s role as a strategic anchor market within AMEA Power’s long-term growth strategy.

Transformational Impact 

Upon completion, the project is expected to generate more than 3 million MWh of clean electricity annually, enough to power more than 500,000 households, while offsetting 1.6 million tonnes of CO₂ emissions each year.

Construction of the project is expected to create over 4,000 jobs during construction, with more than 95% of the roles filled by Egyptians, supporting skills development and local economic growth.

Hussain Al Nowais, Chairman of AMEA Power said: “This project reflects AMEA Power’s ability to move with speed and scale. Given the strategic importance of this renewable energy project for Egypt’s energy system, we initiated construction at the earliest opportunity, advancing delivery even before project finance was finalised. As the largest solar and battery storage project developed in Africa, it marks a defining step in Egypt’s clean energy journey and delivers meaningful benefits to the country, enhancing energy security, supporting local employment, and strengthening the foundations for long-term national development.”

Takashi Mitsuyoshi, Chief Executive Officer of Kyuden International Corporation said: “We are honored to be part of this landmark project in Egypt and to collaborate with IFC and AMEA Power. Together, we are committed to delivering this project successfully. We believe it will contribute significantly to Egypt’s clean and sustainable development and accelerate the transition to renewable energy.”

Cheick-Oumar Sylla, IFC’s Division Director for North Africa and the Horn of Africa said: "Our strategic partnership with AMEA Power is delivering high-quality energy projects with lasting development impact in Egypt and beyond. By scaling clean power and storage solutions, we are helping Egypt meet its growing energy needs sustainably and build long-term resilience. This project exemplifies how innovative financing and strong partnerships can accelerate the transition to renewable energy while creating jobs and fostering inclusive and sustainable economic growth.”

The project builds on the long-standing partnership between AMEA Power and IFC across North Africa, following the successful commissioning of the 500MW solar power plant in Aswan and the 500MW wind power plant in Ras Ghareb, as well as the first utility-scale battery energy storage system in Egypt, in addition to the first large-scale privately financed solar project in Tunisia. It also marks Kyuden International Corporation’s first investment in Egypt. 

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, battery storage, water desalination and green hydrogen, demonstrating its long-term commitment to the global energy transition and water security.

Contacts:
E-mail: Barbro.Ciakudia@ameapower.com
Landline: +971 (0) 4 310 7050
For more information, please visit: www.ameapower.com

About Kyuden

The Kyuden Group is a leading energy company in Japan,. The parent company of the Kyuden Group, Kyushu Electric Power Company, has been supplying electricity to more than 7 million homes and businesses for over 70 years in the Kyushu region in the south of Japan. Its primary goal is to provide safe, reliable, and affordable energy while striving to achieve Carbon Neutrality by 2050.

Leveraging the technology, expertise, and network developed through the Group’s domestic and global operations, Kyuden International engages in power generation, power distribution, and other businesses. Kyuden International intends to expand business development opportunities by cooperating with various business entities and promoting initiatives that contribute to low-carbon and decarbonization efforts tailored to the specific circumstances in each country. These efforts support the Group’s vision of achieving a carbon-neutral society. For more information, visit https://www.kyuden-intl.co.jp/en/