BII commits $37m to Abydos II, supporting Egypt’s rise as a regional hub for clean energy generation

• BII increases its investment in Egypt’s renewable energy sector, particularly in integrated battery storage, by supporting Amea Power’s latest project in the country.
• BII joins IFC, DEG, FMO, CDP, OFID and Europe Arab Bank to finance Abydos II, one of Africa’s largest solar PV and battery storage projects.
• The 1 GWac plant is expected to generate 2,910 GWh of renewable power annually and avoid 1.6 million tonnes of CO₂ each year.
• The project supports Egypt’s goal to become a regional renewable energy hub and reach 42 per cent renewables in its energy mix by 2030.

British International Investment (BII), the UK’s development finance institution and impact investor, has committed $37 million to the Abydos II Solar PV and Battery Energy Storage System (BESS) project in Egypt.

The $737 million project, to be developed by AMEA Power, will expand reliable access to renewable power, support Egypt’s clean energy trade ambitions, and demonstrate how large-scale solar and battery storage projects can fuel sustainable economic growth across the continent.

Located in Aswan Governorate, Abydos II will be one of Africa’s largest integrated solar and battery storage facilities, with a capacity of 1 GWac and a 600 MWh battery system. Once operational in 2026, it will generate approximately 2,910 GWh of clean electricity annually and reduce 1.6 million tonnes of CO₂ emissions each year.

The project is financed alongside a consortium of leading impact investors, including International Finance Corporation (IFC), Cassa Depositi e Prestiti (CDP) of Italy, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), the Dutch Entrepreneurial Development Bank (FMO), the OPEC Fund for International Development, and the Europe Arab Bank.

Supported by a 25-year Power Purchase Agreement with the Egyptian Electricity Transmission Company (EETC), the project will deliver stable, low-cost electricity to households, businesses, and industries. Its advanced transmission design will be mission-critical for evacuating power to large-scale commercial and industrial players, supporting Egypt’s green industrialisation plan to inject stable, sustainable, and affordable power to manufacturing, logistics, and export-oriented sectors.

The Abydos II project aligns with Egypt’s National Climate Change Strategy 2050, which aims to decarbonise key sectors such as energy, transport, and heavy industry, while supporting country-led investment platforms that attract private and institutional capital for climate projects. These platforms are rapidly becoming a cornerstone of regional cooperation and energy trade across growing markets, reinforcing Egypt’s position as a leading hub for climate innovation and renewable energy-led growth.

Iain Macaulay, Director and Head of Project Finance (Africa and Pakistan), BII, said: “Abydos II is a major milestone in Egypt’s clean energy journey and reflects our commitment to working with partners to accelerate the country’s transition toward a sustainable, resilient economy. This project will deliver reliable green power, create thousands of jobs, and boost productivity. BII is proud to work with Amea Power, alongside IFC, DEG, FMO, CDP, the OPEC Fund, and others to show that large-scale solar and battery storage can drive climate action and economic opportunity.”

Sherine Shohdy, North Africa Regional Director, BII, said:

This investment builds on BII’s growing climate portfolio in Egypt, which includes ARC for Renewable Energy’s 390 MW of solar capacity, the 1.1 GW Gulf of Suez wind farm, and Obelisk. These projects are crucial to enabling sustainable development and uncovering new opportunities in green manufacturing, logistics, and technology.