Wedoany.com Report-Dec.22, Dubai-based renewable energy company Amea Power has announced that its large-scale solar photovoltaic and energy storage project in Egypt has successfully secured financing and officially commenced construction. The project will integrate 1 gigawatt of solar PV power generation with 600 megawatt-hours of battery energy storage.

The facility is located in Egypt's southern Aswan Governorate and is expected to commence commercial operation in June 2026. With a total investment exceeding $700 million, it will become one of the largest single-site renewable energy and battery storage facilities in Africa upon completion. Amea Power is advancing the construction in collaboration with partners including Japan's Kyuden International Corporation.

Hussain Al Nowais, Chairman of Amea Power, stated, "As Africa's largest solar PV and energy storage project, it marks a significant milestone in Egypt's clean energy journey and delivers tangible benefits to the country, enhancing energy security, supporting local employment, and strengthening the foundation for long-term national development." He emphasized that due to the project's strategic importance for Egypt's energy system, the company began advancing construction even before the financing was finalized.

The project financing is led by the International Finance Corporation, raising approximately $570 million through a senior debt financing package, with support from several international financial institutions.