- BII has committed $37 million to Egypt’s 1 GW Abydos II solar-plus-storage project, one of Africa’s largest, helping deliver low-carbon power and cut emissions.
- The investment supports Egypt’s renewable energy goals and boosts green industrialisation and economic growth.
British International Investment (BII) has expanded its support for Egypt’s clean energy transition by committing $37 million to the Abydos II project. Amea Power is developing the facility in the Aswan Governorate. The $737 million project will deploy 1 GWac of solar capacity and a 600 MWh battery system. Once operational in 2026, it will produce approximately 2,910 GWh of clean electricity each year and avoid 1.6 million tonnes of CO₂ emissions.
Furthermore, BII is partnering with a consortium of global impact investors. These include the International Finance Corporation, Italy’s Cassa Depositi e Prestiti, DEG of Germany, the Dutch bank FMO, the OPEC Fund for International Development and the Europe Arab Bank. In addition, the project benefits from a 25-year Power Purchase Agreement with the Egyptian Electricity Transmission Company. The PPA will provide stable and affordable power for households, businesses and industry. The plant’s transmission design will also support Egypt’s green industrialisation and economic growth.
The project aligns with Egypt’s national energy goals. The government aims to raise the share of renewables to 42 percent by 2030. It also seeks to position the country as a regional clean energy hub. Moreover, the project supports Egypt’s 2050 climate strategy, which targets decarbonisation in energy, transport and heavy industry. By combining solar generation with storage, Abydos II will deliver reliable renewable power and stimulate development.
BII stated that its investment will accelerate Egypt’s energy transition. Iain Macaulay, BII’s Director and Head of Project Finance for Africa and Pakistan, called the project a major milestone. He said Abydos II will supply green power, create thousands of jobs and increase productivity. He also highlighted the value of large-scale solar and storage in advancing climate and economic benefits.
Additionally, BII’s North Africa Regional Director, Sherine Shohdy, said the institution is expanding its climate portfolio in Egypt. Current projects include ARC for Renewable Energy’s 390 MW solar assets, the 1.1 GW Gulf of Suez wind farm and the Obelisk project. These initiatives support sustainable development and promote investment in green manufacturing, logistics and technology. With Abydos II, Egypt will strengthen its leadership in renewable innovation and attract more private capital.
Overall, the project demonstrates how public and private collaboration can expand clean energy, reduce emissions and support economic growth across Africa.