Egypt Grants Golden Licenses for Two Large BESS Projects in Aswan and Suez to Boost Grid Storage and Renewables

Egypt has awarded golden licenses to two major battery energy storage system (BESS) projects, one in the Benban solar area of Aswan and another in Zaafarana, Suez. The Nefertiti Energy Storage project will cover 214,000 square meters with a $450 million investment, while the Horus Energy Storage project spans 177,000 square meters with a $350 million investment. Together they are expected to create over 3,000 jobs and support Egypt's goal of reaching 42% renewable electricity by 2030. The golden license is a single approval that replaces dozens of permits, which should speed up construction. Both projects aim to store electricity from renewable sources and reduce carbon emissions. Egypt currently gets only 12% of its power from renewables, so these BESS installations are critical for integrating more solar and wind capacity onto the grid without curtailment.