AMEA Power Requests USD 223.5 Million From EBRD to Launch Egypt’s First Utility-Scale Battery Storage Sites

AMEA Power seeks EBRD funding for the Nefertiti and Horus BESS projects in Egypt. The 750 MW battery duo aims to enhance grid stability and renewable integration.

By: AXL Media

Published: Apr 1, 2026, 4:24 AM EDT

Source: The information in this article was sourced from Renewables Now

A Landmark Financing Request for Egyptian Energy

The European Bank for Reconstruction and Development is currently evaluating a significant investment proposal that could redefine the North African energy storage landscape. AMEA Power, a prominent renewables developer based in Dubai, is seeking approximately USD 223.5 million in loans to facilitate the construction of two massive battery energy storage systems. These facilities are designed to provide a combined capacity of 750 MW and 1,500 MWh, representing a critical step toward modernizing Egypt's electrical infrastructure. The bank has set an exploratory status for the applications, with a final decision on the credit facilities expected by late May 2026.

The Nefertiti Project and Grid Stability

The primary portion of the sought funding is dedicated to the Nefertiti BESS project, a 500 MW facility planned for the Benban region in the Aswan governorate. This site is already a global hub for solar energy, and the addition of the Nefertiti battery complex is intended to serve as a stabilizer for the existing renewable energy output. With a total projected cost of nearly USD 297 million, the Nefertiti system will play a vital role in balancing supply and demand, ensuring that the surge in solar generation does not compromise the integrity of the national grid during peak hours or weather fluctuations.

Horus BESS and the Red Sea Corridor

A second, smaller installation known as the Horus BESS is slated for development in Zafarana, located along the western coast of the Gulf of Suez. This 250 MW project requires a total investment of USD 145 million, with AMEA Power requesting USD 61 million from the EBRD to cover a portion of the capital expenditure. Positioned in the Red Sea governorate, the Horus facility is strategically placed to support the high density of wind and solar projects currently operating or planned along the coast. Like its counterpart in Aswan, this system will provide 500 MWh of storage, allowing for a more consistent delivery of clean power to Egyptian consumers.