Arab Finance: The International Finance Corporation (IFC) has announced a $72 million investment to support Egypt’s first utility-scale battery energy storage system (BESS), in partnership with AMEA Power and the Egyptian government, marking a major milestone in the country’s transition to clean energy, as per an emailed press release.
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[pdf] The Red Sands project will be the largest standalone BESS to reach this stage on the continent, designed to store power during off-peak hours and release it when demand is highest—providing essential grid stability and flexibility for South Africa’s electricity network.
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