SUBSCRIBE
PROFILE

AMEA Power finalizes financing for solar project in South Africa

AMEA Power has closed the financing of its 120MW solar project in South Africa, with backing from Standard Bank and the Industrial Development Corporation.

Share:

Projet solaire AMEA Power Afrique du Sud

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

SUBSCRIBE

AMEA Power, a Middle East-based renewable energy company, has announced the completion of financing for its 120MW solar photovoltaic project in Doornhoek, South Africa. The US$120 million project marks the company’s first operational installation in the country, underlining its commitment to South Africa’s energy sector.

Background and Financial Partnerships

The project received US$100 million in debt financing from Standard Bank South Africa, while the Industrial Development Corporation provided US$8 million in equity to local partners Ziyanda Energy and Dzimuzwo Energy. Both companies are entirely owned by African women, reinforcing the local impact of the project.
The consortium, comprising AMEA Power and its local partners, won the project in the sixth bidding round of the Renewable Energy Independent Power Producer Procurement Program (REIPPPP). Hussain Al Nowais, Chairman ofAMEA Power, expressed his satisfaction at this achievement, underlining the importance of supporting South Africa’s energy transition.

Energy and Operational Impact

Once commissioned, the Doornhoek project will generate 325GWh of energy per year, enough to power around 97,000 homes. George Kotsovos, Head of Energy and Infrastructure Finance at Standard Bank Group, expressed his pride at being associated with this project, which will have a significant impact on South Africa’s energy needs.
David Jarvis, acting CEO of the Industrial Development Corporation, stressed the importance of equitable participation and operational involvement of new black women-owned businesses in the energy sector, underlining IDC’s commitment to replicating this model in future energy projects.

Future prospects and developments

The Doornhoek project, located near Klerksdorp in the North West Province, is scheduled to begin commercial operations by December 2025. With this project, AMEA Power is demonstrating its potential to make a significant contribution to South Africa’s energy objectives.

  • Popular on energynews.pro
An Elliott affiliate raises bid to $8.82bn for Citgo’s parent company
Funds Push European Carbon Positions to Highest Since April
Forestalia signs 10-year contract with Galp to refinance wind farm
EnBW maintains 2025 guidance despite 7% drop in EBITDA
Boralex reports a decline in EBITDA in Q2 despite increased production
Gentari launches 243 MW solar and storage hybrid project in New South Wales
Gentari has started construction at the Maryvale site, a solar project combined with a 409 MWh battery storage system, located in Central-West Orana and backed by a long-term public contract.
Casa dos Ventos orders 1.5 GW of solar trackers from Nextracker in Brazil
Casa dos Ventos has chosen Nextracker to equip four solar and hybrid projects totalling 1.5 GW, marking its first large-scale entry into the solar sector in Brazil.
Melvan secures €4.26mn for three photovoltaic projects in France
Melvan obtains €4.26mn in bank financing to develop three solar power plants totalling 3.9 MWp, with construction scheduled to start in the second half of 2025.
Arevon launches $2 bn Eland solar complex to strengthen Los Angeles’ grid
Arevon’s Eland Solar-plus-Storage project, with a capacity of 758 megawatts and integrated storage, enters full operation in California after two phases and more than $2 bn in investment.
5N Plus expands its contract with First Solar to strengthen the supply of critical materials
5N Plus announces the extension of its supply agreement with First Solar, including a 33% increase in cadmium telluride volumes by 2026 and the delivery of new essential materials for photovoltaic production.
Scatec secures $27mn financing for a 142 MW solar power plant in Brazil
Scatec has finalised the financing for its 142 megawatt solar project in Minas Gerais, Brazil, marking a new milestone for the Norwegian company in the South American market.
Fortistar and Epic Star Energy complete acquisition of solar portfolio in Hawaii
Fortistar and Epic Star Energy take control of a group of strategic renewable assets, including a solar power plant in Kauai, marking a major milestone for Hawaii's energy development.
Wood Mackenzie forecasts a 46% decline in US residential solar by 2030
According to Wood Mackenzie, the end of the tax credit in the United States could lead to a 46% drop in new residential solar installations by 2030, despite strong long-term market potential.
Audax Renovables invests EUR17mn in a 21.88 MWp photovoltaic plant in Spain
Audax Renovables commits EUR17mn to a 21.88 MWp solar plant in Navalmoral de la Mata, targeting annual output of 42 GWh, backed by structured financing from the European Investment Bank.
Solarcentury launches the first 25 MWp tranche of the Mailo solar plant in Zambia
Solarcentury commissions 25 MWp at Mailo, Zambia, connecting for the first time a merchant solar plant to the Southern African Power Pool and begins construction of the next phase.
Mergence invests $3.3mn to support Solarise Africa’s solar growth
Solarise Africa secures $3.3mn in financing from Mergence Investment Managers to accelerate the deployment of solar systems for the commercial and industrial sector in Africa.
First Solar raises annual outlook after new import tariffs
First Solar anticipates higher revenue for the current year, driven by an increase in solar panel prices following the introduction of new import tariffs.
GoldenPeaks Capital connects two major solar power plants to the Hungarian grid in 2025
GoldenPeaks Capital commissions two large-scale photovoltaic plants in Hungary, strengthening the integration of independent solar generation and the electricity supply on the national market.
Emerge signs 20-year solar agreement with Misk City to power an innovative urban model
Emerge has signed a twenty-year contract with Misk City for the supply of solar electricity through a 621 kWp photovoltaic plant, supporting the site’s environmental certification and urban transformation.
SANY launches 10 MW solar project in Zimbabwe with unique EP+F model
SANY begins construction of a 10 MW solar power plant in Zimbabwe, the first African project integrating engineering, procurement and financing, while continuing its expansion in microgrids and hybrid solutions across the continent.
Stem optimises the integration of the 57 MW Camino solar project in California with its automation technology
Stem deploys a grid optimisation solution for the Camino solar site, with a capacity of 57 MW, in California, meeting IEEE 2800 standards and targeting operational reliability and market performance.
Green Hybrid Power launches billion-dollar floating solar project on Lake Kariba
Green Hybrid Power secures initial $4.4mn financing to launch a 1 GW floating solar power plant in Zimbabwe, aiming to supply 500 MW to industry under a twenty-year contract.
Loblaw launches Canada’s largest rooftop solar system for its logistics centre
Loblaw Group will deploy a 7.5 MW photovoltaic installation on the roof of its East Gwillimbury distribution centre, generating up to 25% of the site’s annual electricity and marking a new step for the Canadian logistics sector.
Shell restructures five U.S. solar projects through joint venture with Ares
Savion, a Shell subsidiary, transfers majority ownership of five solar projects to Tango Holdings, 80% owned by Ares, to optimise the U.S. renewable electricity production portfolio and improve the profitability of the oil group’s investments.
KKR commits $335mn with CleanPeak Energy to support solar distribution in Australia
Investment fund KKR is committing $335mn in a strategic partnership with CleanPeak Energy to accelerate the rollout of solar, storage and microgrid solutions aimed at Australian businesses.
Consent Preferences