IFC and AMEA Power Unveil Egypt’s First Utility-Scale Battery Energy Storage System to Enhance Energy Security

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IFC and AMEA Power Launch Egypt’s First Battery Energy Storage System to Boost Energy Security

**Cairo, Egypt, June 15, 2025** – The International Finance Corporation (IFC) has announced a significant investment to support Egypt’s first utility-scale battery energy storage system (BESS). This initiative represents a deepening partnership with AMEA Power, a prominent renewable energy developer in Africa, the Middle East, and Central Asia, as well as the Government of Egypt in advancing the country’s clean energy goals.

IFC’s $72 million debt package to AMEA Power’s subsidiary, Abydos Solar Project Company, will facilitate the integration of a 300MWh BESS into the newly commissioned 500MWac solar photovoltaic power plant located in Kom Ombo, Aswan Governorate. This solar power plant, which was financed by IFC and international partners in 2022, became operational in November 2024. The integration of the BESS marks Egypt’s first project to be executed under the Government of Egypt’s expedited 4GW Emergency Renewable Energy Program, which aims to address rising electricity demand through clean and competitive energy sources while reducing dependence on imported natural gas.

The BESS, currently undergoing commissioning, is expected to come online by July 2025. It will deliver approximately 100,000 MWh of electricity and help reduce nearly 20,000 tons of CO2 emissions annually, contributing to Egypt’s goal of cutting emissions from its power sector by 37 percent.

“At AMEA Power, we are dedicated to transforming the energy landscape through innovation, speed, and local collaboration,” stated Hussain Al Nowais, Chairman of AMEA Power. “Achieving financial close for Egypt’s first utility-scale BESS project—following our successful launch of a 500MW wind farm in Egypt—demonstrates our capability to deliver large-scale renewable energy projects. We are proud to play a pivotal role in supporting Egypt’s energy transition and enhancing grid resilience.”

“Addressing Egypt’s increasing energy demand, especially during the summer months, requires bold solutions. We are pleased to strengthen our collaboration with a partner like AMEA Power, who is ready to scale,” said Makhtar Diop, IFC’s Managing Director. “This investment provides sustainable infrastructure that not only fortifies the grid today but also lays the groundwork for a cleaner, more resilient energy future in Egypt. It exemplifies an efficient transition that brings value to the country through advanced technologies and skill development.”

The project is aligned with Egypt’s climate platform, the Nexus of Water, Food, and Energy (NWFE), as well as the World Bank Group’s Country Partnership Framework for Egypt (FY23–27), which emphasizes job creation, human capital development, and resilience against economic and environmental shocks. Since 2017, the World Bank Group and other development finance institutions (DFIs) have supported the private sector in developing 2.1 GW of solar PV and 2.8 GW of wind projects, contributing to more than half of Egypt’s total installed renewable energy capacity by 2027.

IFC has been instrumental in notable initiatives such as the 1.4GW feed-in-tariff (FiT) program at the Benban solar park in Aswan Governorate, the 252MW West Bakr Wind project, and the dual 500MW Abydos Solar and 500MW Amunet Wind projects. Since commencing operations in Egypt in 1975, IFC has invested and mobilized nearly $10 billion in development projects and maintains an advisory portfolio of $25 million. IFC’s support in Egypt focuses on sectors including fintech, climate finance, manufacturing, infrastructure, renewable energy, healthcare, and gender.

### About IFC

The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution dedicated to the private sector in emerging markets. Operating in over 100 countries, IFC utilizes its capital, expertise, and influence to create markets and opportunities in developing nations. In the fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to foster a world free of poverty on a livable planet. For more information, visit [www.ifc.org](http://www.ifc.org).

### About Egypt’s First Utility-Scale Battery Energy Storage System (BESS)

The implementation of Egypt’s first utility-scale battery energy storage system (BESS) will enhance the resilience and flexibility of the country’s electricity system. This will allow the grid operator to better manage peak demand times, reduce strain on the grid, support greater power service needs, and optimize Egypt’s abundant renewable resources. The project is backed by the Dutch entrepreneurial development bank (FMO); the Canada-IFC Blended Climate Finance Program, which mobilizes private capital for global climate action; alongside the Korea Green, Resilient, and Innovative Development Blended Finance Program and the Clean Technology Fund. IFC will also assist in strengthening the project’s environmental and social management systems, ensuring safe and healthy working conditions, and managing project activities in accordance with IFC’s Performance Standards.

### Contacts

In Egypt:
Sarah Moussa
+20 100 1022872
Smoussa1@ifc.org

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