The Egyptian government has granted a prestigious ‘Gold License’ to a UAE-based renewable energy company to develop a major solar energy project worth $850 million.
The Egyptian government has granted a prestigious “Gold License” to a UAE-based renewable energy company to develop a major solar energy project worth $850 million in Aswan, Upper Egypt. The license, which facilitates approvals for large-scale infrastructure projects, will enable Abydos for Renewable Energy, a subsidiary of AMEA Power, to advance its ambitious photovoltaic (PV) initiative.
Located in the New Benban area of Aswan, the project will cover an area of 20 square kilometers and is expected to generate 1,000 megawatts (MW) of electricity. Additionally, the facility will feature an advanced 600 MW-hour energy storage system to ensure a reliable power supply. The development is part of Egypt’s broader strategy to diversify its energy mix and increase the share of renewable resources in its national grid.
The “Gold License” granted to Abydos for Renewable Energy represents a significant step in Egypt’s efforts to attract foreign investment into its renewable energy sector. This comprehensive approval covers permits for construction, operational management, and land allocation, streamlining the approval process for large-scale projects.
This announcement follows the recent inauguration of Abydos 1 Solar PV Park in Kom Ombo, Aswan, by Egyptian Prime Minister Mostafa Madbouly. The 500 MW capacity of Abydos 1 currently provides power to approximately 256,000 homes, underscoring the country’s commitment to increasing its renewable energy capacity.
Once completed, the Aswan-based solar energy project will further strengthen Egypt’s leadership in renewable energy in the region and support its ambitious goals for clean energy development.
