AMEA Power announces a $75mln funding round from the SoftBank Group

AMEA Power announces a $75mln funding round from the SoftBank Group

Dubai, United Arab Emirates – AMEA Power, one of the fastest growing renewable energy developers in Africa, has signed a $75 million equity funding round from SoftBank Group Corp. (“SBG”), a Japanese investment holding company. This represents AMEA Power’s first external equity funding following years of being privately funded by its founding shareholders, the AlNowais family. SBG’s funding will allow AMEA Power and SBG to explore a mutual partnership, which will lead to maximizing the value creation of AMEA Power mainly in the AMEA region. The capital raise from Softbank is an all-equity round. Several international institutional strategic corporate and financial investors are also evaluating a potential investment. Founded in 2016, AMEA Power has assembled a world class team of industry experts to deliver projects across Africa, the Middle East and other emerging markets. AMEA Power is quickly scaling up its investments in wind, solar, energy storage, green hydrogen, and water desalination demonstrating its long-term commitment to the global energy transition. AMEA Power has generating capacity in operation and under construction of approximately 1.45 GW and the Company has a clean energy pipeline of nearly 6GW across 15 countries. Hussain Al Nowais, Chairman of AMEA Power, said: “We are proud