The Egyptian government has granted a UAE-based renewable energy company the prestigious “Golden License” to develop a major solar power project in Aswan, Upper Egypt, valued at $850 million. The license, which streamlines approvals for large-scale infrastructure projects, will allow Abydos for Renewable Energy, a subsidiary of AMEA Power, to move forward with the ambitious photovoltaic (PV) initiative.
Located in the New Benban area of Aswan, the project will span 20 square kilometers and is set to generate 1,000 megawatts (MW) of electricity. In addition, the facility will include 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 sources in its national grid.
The “Golden License” granted to Abydos for Renewable Energy represents a significant step in Egypt’s push to attract foreign investment in its renewable energy sector. This all-encompassing approval covers permits for construction, operational management, and land allocation, simplifying the approval process for large-scale projects.
This announcement follows the recent opening of the Abydos 1 Solar PV Park in Kom Ombo, Aswan, which was inaugurated by Egyptian Prime Minister Mostafa Madbouly. The 500-MW capacity of Abydos 1 is already providing power to approximately 256,000 homes, underscoring the country’s commitment to boosting its renewable energy capacity.
Once completed, the Aswan-based solar power project will further strengthen Egypt’s position as a leader in renewable energy in the region and support its ambitious targets for clean energy development.