AMEA Power expands into South Africa with GreenCo
AMEA Power is committed to South Africa’s energy transition by signing an agreement to build an 85 MW solar photovoltaic power plant, financed by Standard Bank. The initiative is part of the country’s plans to increase its share of renewable energy and reduce its carbon emissions.
| Sectors | Solar Energy, Photovoltaic |
|---|---|
| Themes | Investments & Transactions, Financing, Project Development |
| Companies | AMEA Power |
Renewable energy company AMEA Power announced that it has signed a 25-year power purchase agreement with GreenCo Power Services (Pty) Limited for power generation from its 85 MW solar photovoltaic plant. The construction of the project will be financed by Standard Bank of South Africa.
Produce 220 GWh each year
South Africa’s Minister of Industry, Ebrahim Patel, and the UAE’s Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, attended the signing of the agreement. Located in the North West Province of South Africa, the solar power plant is expected to be operational in 2025 and produce approximately 220 GWh of clean energy annually.
AMEA Power, in collaboration with GreenCo and Standard Bank, wants to develop a rapid energy transition model to boost renewable energy production in South Africa. To support its growth in the country, AMEA Power has opened a new office in Johannesburg that will focus on business development and project execution throughout the country.
South Africa seeks to diversify its energy mix
The company has also secured sites for over 1 GW of renewable energy projects in South Africa. South Africa’s long-term strategy is to increase the share of renewable energy in its energy mix from 11% to 41% by 2030 and to deactivate between 8 and 12 GW of coal-fired power plants over the next decade.
AMEA Power is committed to the global energy transition with a clean energy project pipeline of more than 6 GW in 16 countries, including wind, solar, energy storage and green hydrogen.
