Capital keeps flowing into African power and storage — and Gulf money is leading the way.
From Cairo to Kinshasa, this week’s deal flow shows where investors are placing bets: firm, dispatchable power and distributed access, financed by DFIs and Gulf capital alike.
What we’re tracking today:
Egypt’s Cabinet granted “golden licences” to two AMEA Power-owned battery storage projects — a combined 1.5 GWh, backed by $800m (€700m) of investment, as Cairo prioritises renewables to cut reliance on imported fuel. Dubai capital deploying into Egyptian grid storage is exactly the UAE–Africa corridor we track closely.
WeLight, Africa’s largest solar mini-grid operator, unveiled a $650m expansion into Nigeria and the DRC, targeting a tenfold jump in its customer base by 2030. Distributed solar is scaling alongside utility-scale deals, not instead of them.
The World Bank approved $265m for Morocco’s Ifahsa pumped-hydro storage project, expected to unlock roughly $1bn in private investment and integrate 1 GW of new solar and wind capacity. Storage remains the gating factor for renewables growth across the continent.
At Persimmon Investments, that’s the map we invest against.