The Cabinet granted golden licenses for two Battery Energy Storage System (BESS) projects operated by Nefertiti Energy Storage Batteries Company and Horus Energy Storage Batteries at the Benban area in Aswan governorate.
The Golden license is a one-stop approval given to major investment projects. It allows investors to build, run, and manage a business using a single document, replacing dozens of permits from different government offices
Nefertiti Energy Storage Batteries Company project includes the design, build, production, management, operation, and maintenance of BESS across a land area exceeding 214,000 square meters.
With an investment of $450 million, the project is expected to create about 1,650 jobs. It aims to promote environmental sustainability, conserve resources, and reduce carbon emissions.
As for the Horus Energy Storage Batteries project, it covers the design, build, manufacture, management, operation, and maintenance of energy storage battery systems from various energy sources.
The project will occupy over 177,000 square meters in the Zaafarana area of Suez Governorate. The land is also allocated to the New and Renewable Energy Authority for renewable energy projects under Presidential Decree No. 116 of 2016.
With an investment of $350 million, the project is expected to generate about 1,400 jobs. It aims to support environmental goals, conserve resources, and lower carbon emissions.
BESS is essentially a giant rechargeable battery that stores electricity (often from solar panels or the power grid) for later use. They pair battery cells with smart software and inverters to balance energy loads, lower energy costs, and provide backup power.
Egypt aims to generate 42% of its electricity from renewables by 2030, instead of the earlier plan to achieve that target by 2035. By 2040, clean energy should account for over 60%, per the updated Integrated Sustainable Energy Strategy. Currently, renewables account for 12% of total generation.
