Highlights
- AMEA Power is investing an additional US$800 million in two new groundbreaking renewable energy projects in Egypt.
- This strengthens AMEA Power's position as a major player in Egypt's clean energy landscape, bringing its total capacity in the country to 2,000MW of Solar PV and Wind projects, with 900MWh battery energy storage systems (BESS).
AMEA Power, one of the fastest-growing renewable energy companies, signs Power Purchase Agreements (PPAs) to develop largest solar PV in Africa and first utility-scale battery energy storage system in Egypt.
After the successful development of the 500MW Abydos Solar PV Project, AMEA Power has been awarded two new landmark renewable energy projects in Egypt. The first project, a new 1,000MW solar PV power plant with a 600MWh BESS in the Benban area, Aswan Governorate, will mark a historic milestone as the largest Solar PV and BESS project in Africa. The second project, a 300MWh BESS, is an expansion of the company's existing 500MW Abydos solar PV power plant currently under construction in Kom Ombo, Aswan Governorate. The project will pioneer the first-ever use of a utility-scale BESS solution in Egypt.
AMEA power has signed PPAs with the Egyptian Electricity Transmission Company for both projects. The signing ceremony held on Thursday, September 12th, 2024, was attended by H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt; H.E. Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy; and H.E Mariam Al Kaabi, UAE Ambassador to Egypt. From AMEA Power, Mr. Hussain Al Nowais, Chairman; Aqueel Bohra, Chief Investment Officer; Samir Nacef, Senior Director, Project Development; Tina Blazquez-Lopez, Head of Legal; Khaled Arfien, Senior Manager, Business/Project Development; and Ahmed Hafez, Country Manager were also in attendance.
With a combined investment of US$800 million, these projects emphasize AMEA Power's commitment to supporting Egypt's clean energy transition and highlights the country as a strategic market for its future growth. The projects are expected to create approximately 2,500 jobs during peak construction and will provide clean, renewable energy to over 769,800 homes, offsetting more than 2,347,000 tons of carbon emissions annually.
Hussain Al Nowais, Chairman of AMEA Power, commented: "As the developer of the largest solar PV project in Africa and the first developer to undertake BESS in Egypt, our projects not only set a new benchmark in the renewable energy sector in Egypt and on the Continent but also demonstrates our leadership and innovative spirit in pushing the boundaries of what is possible. We are honored to play such a pivotal role in shaping the future of clean energy in Egypt and on the Continent and this investment is a testament to AMEA Power's commitment to deliver large-scale renewable energy solutions. These projects are not just about generating power, they are catalysts for economic growth, job creation, and community empowerment. By investing in Egypt's energy future, we are reinforcing our dedication to driving positive change and supporting socio-economic development across the regions we serve."
AMEA Power's projects in Egypt now includes:
- The 500MW + 300MWh Abydos Solar PV Project: The solar PV project is due to be commissioned by October 2024.
- The 500MW Amunet Wind Project: The project is under construction and due to be commissioned by Q3 2025.
- An additional 1,000MW Solar PV project, with 600MWh BESS.
This substantial investment in renewable energy, will not only increase Egypt's energy security and diversification but also contribute to the country's ambitious clean energy goals. Once commissioned, both projects will contribute to supporting the country, given the recent prolonged power outages in Egypt. AMEA Power is proud to play a vital role in supporting the country's transition to a sustainable future.
AMEA Power will continue to work closely with the local communities as part of its commitment to socio-economic development and will undertake key social initiatives under its Community Investment and Development Programs'.
About AMEA Power
Headquartered in Dubai, AMEA Power is a developer, investor, owner and operator of renewable energy projects. As one of the fastest-growing renewable energy companies in the region, AMEA Power has assembled a world-class team of industry experts to deliver projects across Africa, the Middle East, and emerging Asia. With projects in 20 countries, a 6GW+ project pipeline, and 1,600MW+ in operation and under/near construction, the company is rapidly expanding its investments in wind, solar, energy storage, and green hydrogen, demonstrating its long-term commitment to the global energy transition.
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E-mail: Barbro.Ciakudia@ameapower.com
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For more information, please visit: www.ameapower.com
