At the optimal investment times, the specific capital expenditure is estimated to range from $882/kW to 1,177/kW, while the levelized cost of storage (LCOS) ranges from $0.
Energy storage costs vary significantly depending on configuration, duration, chemistry, and integration scope. In 2024, benchmark costs for utility-scale BESS ranged between USD 300–500/kWh installed, with LFP systems being the most cost-efficient.
The project will cost more than $700 million in total, with Amea Power holding a 60% stake and Japan's Kyuden International Corporation owning the remaining 40%.
According to APICORP's “MENA ENERGY INVESTMENT OUTLOOK 2022-2026”, for a 100MW/200MWh electrochemical energy storage project, the total unit cost is approximately US$276/MWh, of which the initial capital cost/charging cost/financing cost/operation and maintenance cost/tax cost are.
The Return on Investment (ROI) varies based on the specific application and cost structure: Pure Peak Shaving: 3–5 years. PV + Storage Optimization: 4–7 years.