Gulf capital is building Africa’s battery backbone. Egypt just fast-tracked the region’s biggest storage bet — while Iberia keeps tightening its grid.
What we’re tracking today:
Egypt’s Cabinet granted “golden licences” to two battery storage projects developed by Dubai-based AMEA Power — 1.5 GWh combined, backed by USD 800m of investment. Fast-track licensing for storage in Africa’s largest markets is exactly how the UAE–Africa capital corridor scales.
Portugal and Spain have commissioned a new 400 kV interconnector in the north of the Peninsula, lifting cross-border exchange capacity by around 1,000 MW, per grid operator REN. Deeper market coupling means better price formation and stronger revenue cases for solar, wind and BESS on both sides of the border.
Renewables met 71% of Portugal’s electricity consumption in H1 2026 and covered 77% of the country’s demand growth, REN reports. At this penetration, value migrates to firming, storage and grid access — where disciplined capital positions.
From Cairo to Lisbon, storage and grid are where returns concentrate. At Persimmon Investments, that’s the map we invest against.