Ameya Power secures $57.18 million in debt financing for Egypt's 1 GW Abidos 2 solar PV and 600 MWh battery storage project

Type: Financing · Technology: Solar, Storage · Country: Egypt · Value: $57.18M · Announced: 2026-06-18

Ameya Power, a UAE-based renewable energy developer, secured $57.18 million in debt financing from the International Finance Corporation to fund Egypt's 1 GW Abidos 2 solar PV and 600 MWh battery storage project in Aswan Province. The project, which has entered final commissioning, is expected to generate over 3 million MWh of electricity annually and reduce 1.6 million tons of CO2 emissions once operational in June 2026. Electricity will be sold to the Egyptian Electricity Transmission Company under a 25-year power purchase agreement guaranteed by Egypt's Ministry of Finance, with a tariff of 2.8 cents per kWh. The project represents a material expansion of Egypt's renewable energy capacity, contributing to the national grid's diversification efforts. Financing terms include a 25-year tenor with competitive interest rates structured by IFC's climate finance instruments.

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