Dubai-based AMEA Power secures $75m from Japan’s SoftBank

Dubai-based AMEA Power secures $75m from Japan’s SoftBank

AMEA Power, a Dubai-headquartered renewable energy firm, has signed an equity funding round worth $75 million with Japanese investment holding company SoftBank Group Corp (SBG), according to a press release. The Japanese entity will be the first external investor in AMEA Power after years of being privately funded by AlNowais Investments. SoftBank’s financing will open the door for several international entities and financial investors who are also evaluating a potential investment. AMEA Power, which was established in 2016, has already completed a number of projects in Africa and the Middle East (AME) besides other emerging markets. It also has a generating capacity in operation and under construction of nearly 1.45 gigawatts (GW). The UAE firm noted that it is currently seeking expansion into new markets across the Middle East, the Commonwealth of Independent States (CIS), and Southeast Asia. said: Al Nowais added: It is worth noting that in December 2022 to implement two renewable energy projects in Egypt with $1.10 billion investments.