{"id":678533,"date":"2025-12-21T00:00:00","date_gmt":"2025-12-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=678533"},"modified":"2025-12-26T12:39:49","modified_gmt":"2025-12-26T12:39:49","slug":"amea-power-wraps-financing-for-africas-biggest-solar-plus-storage-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/21\/amea-power-wraps-financing-for-africas-biggest-solar-plus-storage-plant\/","title":{"rendered":"Amea Power wraps financing for Africa\u2019s biggest solar-plus-storage plant"},"content":{"rendered":"

Dubai-bas<\/strong>ed Amea Power and Japan\u2019s Kyuden International wrapped financing <\/strong>on a USD 700 mn solar and battery storage project in Aswan<\/strong>, Amea said in a statement<\/a>. The facility, known as Abydos II, will be the largest single-site renewable energy facility in Africa when it comes online.<\/p>\n

The International Finance Corporation led a USD 570 mn debt package<\/strong>, with co-financing from a who\u2019s-who of development finance institutions, including Italy\u2019s CDP, Dutch development bank FMO, Germany\u2019s DEG, British International Investment (which wrote a USD 37 mn ticket, it said in a separate statement<\/a>), the OPEC Fund, and Europe Arab Bank.<\/p>\n

By the numbers: <\/strong>The 1 GW solar plant, paired with 600 MWh of battery storage, should come online by June 2026. Amea Power holds 60% of the project, while Kyuden has 40%. It\u2019s Kyuden\u2019s first investment in Egypt. Construction work is already underway<\/strong>; Amea and Kyuden have a 25-year offtake agreement with the Egyptian Electricity Transmission Company.<\/p>\n

This one is special: <\/strong>The Amea-Kyuden plant is being paired with what will become Africa\u2019s largest battery energy storage system (or \u201cBESS,\u201d in industry-speak). The battery system will allow the massive solar park to supply renewable energy to the national grid during peak evening hours when load-shedding risks are highest.<\/p>\n

Amea is big here:<\/strong> The developer is quickly becoming one of the largest private power players in the nation. When the Aswan facility comes into service, the company\u2019s Egypt portfolio will top 2.5 GW of wind and solar, plus 2.4 GWh of storage. It commissioned a 500 MW solar plant a year ago this month and has a 500 MW wind farm in the construction phase.<\/p>\n

\n

The utility-scale battery storage is clutch<\/p>\n

Why this matters: <\/strong>Utility-scale battery storage is among the more important hedges against the return of rolling blackouts that plagued us in 2023 (and, to a lesser extent, 2024). The other big things for officials to address are the capacity and quality of the transmission grid itself. Integrated battery storage systems, like the 600 MWh of storage Amea has here, provide baseload-style renewable power. The more we have of that, the less reliant we\u2019ll be on unpredictable Israeli gas imports and declining domestic production from the Zohr field.<\/p>\n

Egypt aims to hit 42% renewables in its energy mix <\/strong>by 2030 as it seeks to position itself as the premier renewable energy hub in the eastern Mediterranean.<\/p>\n

(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"

A who\u2019s-who of development finance institutions, including British International Investment, delivered a USD 570 mn debt package<\/p>\n","protected":false},"author":1,"featured_media":678534,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[7284,2184,93,72,759,125,12390],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-678533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-amea-power","tag-british-international-investment","tag-energy","tag-enterpriseam","tag-international-finance-corporation","tag-investment-watch","tag-kyuden-international","wpautop","entry"],"acf":{"mongo_id":"e9654c14-f9a1-4c45-8d25-7d42bbfe8de8","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/12\/986.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Amea Power, Kyuden International reach financial close on USD 700 mn Abydos II solar project after securing USD 570 mn debt package","related_issue":[678524],"teaser":"A who\u2019s-who of development finance institutions, including British International Investment, delivered a USD 570 mn debt package"},"yoast_head":"\nAmea Power wraps financing for Africa\u2019s biggest solar-plus-storage plant - 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We\u2019re looking forward to a festive pre-Christmas weekend with family and friends, and we hope you are\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/8\/1691.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577021,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/ifc-could-help-finance-500-mw-al-nowais-sumitomo-wind-farm\/","url_meta":{"origin":678533,"position":2},"title":"IFC could help finance 500 MW Al Nowais-Sumitomo wind farm","author":"enterpriseam admin","date":"7 November 2022","format":false,"excerpt":"IFC money for 500 MW wind project? The International Finance Corporation (IFC) could provide USD 83 mn to an Emirati-Japanese consortium to part-fund their planned 500 MW wind farm in Ras Ghareb, according to the lender\u2019s website. The financing is pending approval and would consist of a USD 75 mn\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/106.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":661173,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/24\/uaes-amea-to-develop-1-5-gwh-battery-storage-projects\/","url_meta":{"origin":678533,"position":3},"title":"UAE\u2019s AMEA to develop 1.5 GWh battery storage projects","author":"enterpriseam admin","date":"24 February 2025","format":false,"excerpt":"AMEA CTO Mahabir Sharma said last month that the project will cost USD 350 mn","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2188.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657053,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/15\/amea-power-is-setting-up-a-5-gw-wind-project-in-gulf-of-suez\/","url_meta":{"origin":678533,"position":4},"title":"AMEA Power is setting up a 5 GW wind project in Gulf of Suez","author":"enterpriseam admin","date":"15 December 2024","format":false,"excerpt":"The project is set to be completed by 1Q 2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/265.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":643801,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/16\/amea-power-to-invest-usd-800-mn-to-develop-africas-largest-solar-power-plant-and-battery-storage-projects-in-upper-egypt-plus-scatec-two-intl-consortia-set-the-wheels-in-motion-on\/","url_meta":{"origin":678533,"position":5},"title":"AMEA Power to invest USD 800 mn to develop Africa\u2019s largest solar power plant and battery storage projects in Upper Egypt. PLUS: Scatec, two int\u2019l consortia set the wheels in motion on renewables projects.","author":"enterpriseam admin","date":"16 September 2024","format":false,"excerpt":"AMEA will develop a 1 GW solar power plant with 600 MWh battery storage system in Benban \u2014 expected to be Africa\u2019s largest","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1104.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/678533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=678533"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/678533\/revisions"}],"predecessor-version":[{"id":678704,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/678533\/revisions\/678704"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/678524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/678534"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=678533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=678533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=678533"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=678533"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=678533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}