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UAE-based renewable energy company AMEA Power announced on Monday the financial close of Egypt's first ever utility-scale Battery Energy Storage System (BESS) project.
The 300MWh [megawatt-hour] BESS project is an extension of AMEA Power’s operational 500-megawatts (MW) Solar PV Plant in Kom Ombo, Aswan Governorate that was commissioned in December 2024.
The BESS project will receive a $72 million debt package from IFC, which will finance the integration of the project into the existing plant, AMEA Power said in a press statement.
It said the project was constructed in a record time of approximately six months from the signing of the project documents, and is scheduled to be commissioned in July 2025.
IFC and AMEA Power have previously collaborated on the 500MW Amunet Wind Farm in Ras Ghareb, Egypt and a 120MWp solar PV plant in Metbassta, Tunisia.
On Monday, Norway-headquartered renewable energy company Scatec ASA announced that it has reached financial close for the Obelisk hybrid solar and battery energy storage system (BESS) project in Egypt.
(Writing by SA Kader; Editing by Anoop Menon)
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