Cairo, Egypt, December 2020 – AMEA Power (a subsidiary of Al Nowais Investments (ANI)) has signed Power Purchase Agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC) for a 500MW wind power project and a 500MW solar PV project. In December 2019, AMEA Power signed PPAs for a 500MW wind power project and a 200MW solar PV project. Following a request from Egyptian authorities and subsequent approval from the Cabinet of Ministers, the Ministry of Electricity and Renewable Energy increased the size of the solar PV project to 500MW. Abydos Solar Power Company (ASPC), a company fully owned by AMEA Power, will build, own and operate the 500MW solar power project in the Aswan governorate, whilst Amunet Wind Power Company (AWPC), also fully owned by AMEA Power, will build, own and operate the 500MW wind power project in the Gulf of Suez.
In addition to signing the PPAs, AMEA Power has also signed Network Connection Contracts for the Amunet Wind Power Project and the Abydos Solar Power Project with the EETC, and Usufruct Agreements with the New and Renewable Energy Authority (NREA), having completed feasibility studies for the two sites. Further to this, the Ministry of Finance of Egypt has issued sovereign guarantees for each project.
About AMEA Power
Headquartered in Dubai, AMEA Power is a developer and investor in renewable energy projects in Africa, the Middle East, and emerging Asia. AMEA Power has three projects under construction of 50MW each (2 PV solar and 1 wind), in Jordan and Togo. AMEA Power has signed PPAs in Egypt for a 500MW wind project and a 500MW solar project, in Kenya for a 50MW wind project, in Morocco for a 30MW solar project, in Mali for a 50MW solar project, and in Chad for a 2x60MW solar project. Furthermore, the company has other projects in advanced development in Tunisia, Burkina Faso, Ivory Coast, Uganda, and Ethiopia. AMEA Power is led by a highly experienced international team with a proven track record in the power sector.
For more information, please visit: www.ameapower.com
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