BII commits $37m to Abydos II, supporting Egypt’s rise as a regional hub for clean energy generation
British International Investment (BII), the UK’s development finance institution and impact investor, has committed $37 million to the Abydos II Solar PV and Battery Energy Storage System (BESS) project in Egypt, reinforcing its long-term commitment to supporting the country’s clean energy transition.
The investment marks a further expansion of BII’s renewable energy portfolio in Egypt, with a particular focus on integrated battery storage solutions, through backing the latest project developed by AMEA Power. The initiative underlines the growing role of large-scale solar and battery storage projects in enabling sustainable economic growth across Africa.
One of Africa’s largest solar and battery storage projects
With a total project cost of $737 million, Abydos II will be developed in Aswan Governorate and is set to become one of Africa’s largest integrated solar PV and battery storage facilities. The project will have a generation capacity of 1 GWac, supported by a 600 MWh battery energy storage system.
Once operational in 2026, the plant is expected to generate approximately 2,910 GWh of renewable electricity annually, while avoiding an estimated 1.6 million tonnes of CO₂ emissions each year, contributing significantly to Egypt’s decarbonisation efforts.
Strong international financing partnership
BII is financing the project alongside a consortium of leading international development and 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.
Backed by a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC), Abydos II will supply stable and low-cost electricity to households, businesses, and industrial users. Its advanced transmission design will play a critical role in evacuating power to large-scale commercial and industrial consumers.
Supporting Egypt’s clean energy and industrial ambitions
The project directly supports Egypt’s ambition to become a regional hub for renewable energy and to achieve 42 per cent renewables in its energy mix by 2030. It also aligns with the country’s National Climate Change Strategy 2050, which targets emissions reductions across key sectors, including energy, transport, and heavy industry.
By enabling reliable and affordable clean power, Abydos II will contribute to Egypt’s green industrialisation agenda, supporting manufacturing, logistics, and export-oriented sectors while strengthening energy security.
Official statement
Sherine Shohdy, North Africa Regional Director at BII, said:
“Abydos II is a clear example of BII’s leadership in climate finance and our long-term commitment to Egypt’s clean energy transition. By investing in large-scale renewable projects, most recently the Obelisk solar and battery storage project, we are helping to build a low-carbon, resilient economy that supports jobs, strengthens energy security, and positions Egypt as a regional leader in sustainable growth.”
BII’s growing climate portfolio in Egypt
This investment builds on BII’s expanding climate portfolio in Egypt, which includes ARC for Renewable Energy’s 390 MW solar project, the 1.1 GW Gulf of Suez wind farm, and the Obelisk solar and battery storage project. Together, these initiatives are unlocking new opportunities in green manufacturing, logistics, and clean technology, while driving sustainable development across the country.
