IFC and AMEA Power Deepen Partnership to Boost Energy Security in Egypt
Egypt, Dec. 18 -- IFC announced a new partnership with AMEA Power, a leading renewable energy developer in Africa, the Middle East, and Central Asia, and Kyuden International Corporation of Japan to build a large-scale solar power plant and battery energy storage system (BESS) that will significantly increase access to reliable energy in Egypt.The $571.8 million debt package led by IFC - including funds from IFC's own account and mobilized from partners - to the project company, Abydos For Renewable Energy, will finance the construction and operation of Abydos II, a 1,000-megawatt solar PV power plant with an integrated 600-megawatt-hour (MWh) battery energy storage system. Abydos II will be located in Aswan Governorate, southern Egypt.The ...
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