AMEA Power, in partnership with Kyuden International Corporation of Japan, announced on Thursday, December 18, the conclusion of an agreement strategic with the International Finance Corporation (IFC) and several others financial partners for the implementation of a solar photovoltaic project of 1,000 MW, backed by a 600 MWh battery storage system, in Egypt.

Named Abydos for Renewable Energy, the project will be implemented in Aswan Governorate. It aims to sustainably strengthen security. energy and the resilience of the Egyptian electricity network. Once completed, it will produce more than 3 million MWh of clean electricity per year, a capacity enough to power more than 500,000 homes, while allowing to avoid about 1.6 million tons of CO2 emissions₂ every year.

The project is 60% owned by AMEA Power and 40% by Kyuden International Corporation. Its commissioning is scheduled for June 2026, at an estimated total cost of over $700 million. Its financing is based on a senior debt of approximately $570 million, structured by the IFC through its own resources and funds mobilized from partners such as Cassa Depositi e Prestiti, British International Investment and the OPEC Fund, complemented by concessional financing other donors.

For Hussain Al Nowais, president of AMEA Power, this project represents a major turning point: “As the largest solar project and battery storage developed in Africa, it marks a structuring step in Egypt's journey towards cleaner energy and brings concrete benefits to the country, by strengthening energy security, by supporting local employment and by consolidating the foundations of long-term national development term”.

This announcement is part of a regional dynamic supported. On December 16, in Tunisia, AMEA Power commissioned a power plant 120 MWp solar power plant in Kairouan, which has become the largest photovoltaic park in country and the first Tunisian renewable project to exceed the threshold of 100 MWp, also financed with the support of IFC.

According to its Sustainability Report 2024, published in October 2025, AMEA Power concentrates 77.5% of its portfolio in Africa, with 4.14 GW of projects in operation, under construction or in the advanced phase of development, confirming its leading role in the transition energy of the continent.