AMEA Power Signs Power Purchase Agreement for 500 MW Wind and 200MW Solar Power Projects in Egypt
Cairo, Egypt December, 2019 – AMEA Power, (a subsidiary of Al Nowais Investments (ANI)), has signed a power purchase agreement (PPA) with The Egyptian Electricity Transmission Company (EETC) for a 200MW solar PV project and a 500MW wind power project in Egypt.
The PPA was signed by Eng. Sabah Mashali, President of EETC and Mr. Hussain Al Nowais, Chairman of AMEA Power, on December 10th 2019, in the presence of Egypt’s Prime Minister, His Excellency Dr. Mostafa Madbouly; the Minister of Electricity and Renewable Energy, H.E. Mohamed Shaker and the UAE Ambassador to Egypt H.E. Jomaa Al Junaibi, amongst others.
Abyodos Solar Power Company (ASPC), a company fully owned by AMEA Power, will build, own and operate the 200MW solar project in the Kom Ombo region of Aswan under the 25 year take-or-pay agreement. Whilst, Amunet Wind Power Company (AWPC), also fully owned by AMEA Power, will build, own and operate the 500MW wind power project in the Ras Ghareb area under the 20 year take-or-pay agreement.
The power plants, expected to be commissioned in Q4 2021 for solar and Q3 2023 for wind, will be able to supply power to approximately 830,000 homes, with planned production of nearly 2.9 GWh per year. The Project confirms the dedication of AMEA Power to support the country’s firm goal of increasing the renewables contribution by 42% to its energy mix by 2035.
November 26th 2019, AMEA Power signed a PPA with Togo’s national utility company, La Compagnie Energie Electrique du Togo (CEET) for a 50MW solar PV project. This project is now under construction. A PPA with Chad’s Ministry of Energy for a 60MW solar PV project was also signed earlier this year. Furthermore, the company has two projects in Jordan under construction; a 50MW solar power plant and a 51.75MW wind power plant.
Speaking at the signing ceremony, AMEA Power’s Chairman, Hussain Al Nowais, said “As we continue to expand our global presence, we are delighted to embark on these renewable energy projects in Egypt. We are thankful for all the support that we have received in the country and we look forward to continuing to support Egypt in its drive to diversify its energy mix.”
About AMEA Power
Headquartered in Dubai, AMEA Power acquirers, develops, owns and operates power assets in Africa, the Middle East and Asia. The company is a subsidiary of Al Nowais Investments (ANI). It has built a strong pipeline across technologies and at different stages of development in emerging markets. 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
Press contact:
Barbro Ciakudia
Business Development Manager
AMEA Power
T: +971 4 31 07 050
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