BII Invests $37 Million In Egypt’s Abydos II, Boosting Africa’s Largest Solar And Battery Storage Project

British International Investment (BII), the UK’s development finance institution, has increased its investment in Egypt’s renewable energy sector by committing $37 million to the Abydos II Solar PV and Battery Energy Storage System (BESS) project. Developed by Amea Power, Abydos II is set to become one of Africa’s largest integrated solar and battery storage facilities, located in the Aswan Governorate. The project, valued at $737 million, will have a capacity of 1 GWac and a 600 MWh battery system. Once operational in 2026, it is expected to generate around 2,910 GWh of clean electricity annually and avoid 1.6 million tonnes of CO₂ emissions each year.

BII is partnering with a consortium of major impact investors, including the 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 (OFID), and the Europe Arab Bank. The project is supported by a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC), which ensures stable and affordable electricity for households, businesses, and industries. The advanced transmission design of the plant will be crucial for supplying power to large commercial and industrial customers, supporting Egypt’s green industrialisation plans, and helping drive economic growth.

The Abydos II project aligns with Egypt’s broader renewable energy ambitions. The country aims to reach 42 percent of renewables in its energy mix by 2030 and position itself as a regional hub for clean energy. The project also supports Egypt’s National Climate Change Strategy 2050, which focuses on decarbonising key sectors such as energy, transport, and heavy industry while encouraging private and institutional investment in climate-related projects. By combining solar power with battery storage, Abydos II demonstrates how large-scale renewable energy projects can deliver reliable and sustainable power while boosting economic development.

BII’s investment reflects its commitment to accelerating Egypt’s energy transition. Iain Macaulay, Director and Head of Project Finance for Africa and Pakistan at BII, said the project is a major milestone in Egypt’s clean energy journey. He highlighted that Abydos II will not only provide reliable green power but also create thousands of jobs and improve productivity. BII’s involvement with Amea Power and other partners underscores the institution’s focus on using large-scale solar and battery storage to drive both climate action and economic opportunities.

Sherine Shohdy, BII’s North Africa Regional Director, noted that this investment builds on BII’s growing climate portfolio in Egypt, which includes projects such as ARC for Renewable Energy’s 390 MW solar capacity, the 1.1 GW Gulf of Suez wind farm, and the Obelisk project. These initiatives are designed to support sustainable development and open new avenues in green manufacturing, logistics, and technology. With Abydos II, Egypt is expected to strengthen its position as a leader in renewable energy innovation while attracting further private investment and fostering regional cooperation in the clean energy sector.

Overall, the Abydos II project demonstrates how collaborative efforts between public and private investors can accelerate the adoption of renewable energy, reduce carbon emissions, and support sustainable economic growth across Africa.