Egypt Goes Big On Solar

Key Figures & Findings: AMEA Power, in partnership with Japan’s Kyuden International Corporation, has partnered with the International Finance Corporation (IFC) and other lenders to develop the 1GW Abydos solar project with 600 MWh of battery storage in Aswan, Egypt, making it the largest development of its kind in Africa.

Statistics & Insights:

• Total Cost: Exceeds $700 million.

• Scheduled Date: The project is to begin operations in June 2026. 

• Debt Financing: $570 million in senior debt led by the IFC.

• Lending Partners: Includes Cassa Depositi e Prestiti, British International Investment, and the OPEC Fund.

• Environmental Impact: Anticipated to avoid approximately 1.6 million tons of CO₂ emissions per year.

• Ownership: AMEA Power (60%) and Kyuden International Corporation (40%)

Source:  Ecofin Agency

Quick Take: Africa’s biggest solar switch flips ☀️🔋🇪🇬