AMEA Power completes $1.1 billion deal to deploy 1GW of renewable energy projects in Egypt

AMEA Power completes $1.1 billion deal to deploy 1GW of renewable energy projects in Egypt

The landmark 500 megaWatts (MW) wind and 500MW solar projects, represent $1.1 billion of investment into the Egyptian economy and takes the company’s clean energy portfolio to 2GW in the country

The 500MW wind farm, located in the Red Sea Governorate, is being developed in partnership with Sumitomo Corporation, who will own 40 per cent equity in the project.

By Wam Published: Wed 30 Nov 2022, 4:19 PM

AMEA Power, one of the fastest growing renewable energy companies in the Middle East, on Wednesday announced that it has achieved a financial close to deliver one gigawatts (GW) of Wind and Solar Energy projects in Egypt.

The landmark 500 megawatts (MW) wind and 500MW solar projects, represent $1.1 billion of investment into the Egyptian economy and takes the company’s clean energy portfolio to 2GW in the country.

AMEA Power will build, own and operate the 500MW solar PV plant, which will be located in the Aswan governorate of Egypt. The project is being financed by International Finance Corporation (IFC), part of the World Bank Group, Dutch Entrepreneurial Development Bank (FMO) and the Japan International Cooperation Agency (JICA).

The 500MW wind farm, located in the Red Sea Governorate, is being developed in partnership with Sumitomo Corporation, who will