British International Investment (BII), the UK’s development finance institution and impact investor, has announced a commitment of $37 million towards the Abydos II Solar PV and Battery Energy Storage System (BESS) project in Egypt.
The Abydos II project, with a total investment of approximately $737 million, is being spearheaded by AMEA Power and represents a significant step forward in Egypt’s renewable energy ambitions. Situated in the Aswan Governorate, this facility will rank among Africa’s largest integrated solar and battery storage installations.
The financing structure is supported by a consortium of leading impact investors, including:
The project benefits from a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC), ensuring a stable supply of affordable, renewable electricity for households, businesses, and industrial sectors across the country.
Strategic Impact: Abydos II is poised to play a transformative role in Egypt’s clean energy transition. Beyond delivering reliable green power, the project is expected to:
Commenting on the investment, Iain Macaulay, Director and Head of Project Finance for Africa and Pakistan at BII, stated:
Abydos II marks a major milestone in Egypt’s clean energy journey and underscores our commitment to accelerating the country’s transition toward a sustainable, resilient economy. This project will not only deliver dependable renewable power but also foster job creation and economic growth. We are proud to collaborate with AMEA Power and our partners—IFC, DEG, FMO, CDP, the OPEC Fund, and others—to demonstrate that large-scale solar and battery storage can drive both climate action and economic opportunity.
Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 6,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi
You must be logged in to post a comment.
Type above and press Enter to search. Press Esc to cancel.

source