UAE-based Amea Power will develop a USD 350 mn standalone 1.5 GWh battery storage project in Egypt, CTO Mahabir Sharma told The National on Tuesday. The renewables firm inked an initial power purchase agreement with the Egyptian Electricity Transmission Company, with a binding agreement expected in “one or two weeks.” The project is slated for completion by March 2027.

What we know: The standalone battery energy storage system (Bess) will be split between two locations with 1 GWh installed at Benban, Africa’s largest solar park, and 500 MWh in the Red Sea town of Zafarana, Sharma told the National. Amea is also open to partnering on the Bess project. “Initially, we will be handling it on our own, but we are always looking for a good partner to do the project,” Sharma added.

SOUND SMART- A stand-alone Bess operates independently of any single power plant or specific power generation sources, storing electricity from the grid and discharging when needed. This contrasts with an integrated Bess, which is directly linked to a specific renewable energy source — typically solar or wind farms — storing only the power it generates.

Amea is eyeing potential stake sale: Amea is currently in discussions with a “select group of investors” to sell a stake in the company, Sharma said. He did not disclose the expected size of the transaction, though he said the company is in the due diligence phase, noting that Amea would remain the majority owner.

What about green hydrogen? The company is advancing plans for a 1 GW green hydrogen project announced in 2022 — previously reported to have a capacity of 500 MW — with feasibility studies underway and negotiations ongoing with potential offtakers, primarily in Europe due to lower logistical costs, Sharma explained.

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