popular articles

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.
Projet solaire AMEA Power Afrique du Sud

Please share:

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.

Register free of charge for uninterrupted access.

Publicite

Recently published in

A consortium of key players, led by HoloSolis, is developing a gigafactory in Hambach to produce 10 million solar panels annually, meeting European energy transition goals and strengthening French industrial sovereignty.
Scatec has completed the sale of stakes in the Kalkbult, Linde, and Dreunberg solar power plants, generating a total gain of ZAR 2.4 billion and retaining a buyback option in 2034.
Scatec has completed the sale of stakes in the Kalkbult, Linde, and Dreunberg solar power plants, generating a total gain of ZAR 2.4 billion and retaining a buyback option in 2034.
Amcor and Power Roll join forces to launch a lightweight, flexible, and cost-effective photovoltaic film, offering an innovative alternative to traditional solar panels and paving the way for sustainable energy solutions.
Amcor and Power Roll join forces to launch a lightweight, flexible, and cost-effective photovoltaic film, offering an innovative alternative to traditional solar panels and paving the way for sustainable energy solutions.
DAS Solar, a Chinese company, will open its first European factory in the Doubs region in 2024, creating 450 to 600 jobs as part of a strategic €109 million investment.
DAS Solar, a Chinese company, will open its first European factory in the Doubs region in 2024, creating 450 to 600 jobs as part of a strategic €109 million investment.
In Corrèze, agricultural unionists filed a complaint after being accused of using "Nazi methods" during a protest against an agrivoltaics project, reigniting debates over the use of agricultural land.
Solarvest and Finhero launch a solution to streamline access to solar project financing for Vietnamese businesses, addressing specific financial needs.
Solarvest and Finhero launch a solution to streamline access to solar project financing for Vietnamese businesses, addressing specific financial needs.
CCE Holding inaugurated the Horia 1 photovoltaic power plant, with a capacity of 40 MWp. Located in the Arad region, it is now the company’s largest solar installation in Europe, supplying 17,000 households with renewable energy.
CCE Holding inaugurated the Horia 1 photovoltaic power plant, with a capacity of 40 MWp. Located in the Arad region, it is now the company’s largest solar installation in Europe, supplying 17,000 households with renewable energy.
Neoen has secured 7 solar and agrivoltaic projects totaling 164 MWp as part of France's PPE2 tenders. These new installations will bring its secured capacity to over 2.5 GW, consolidating its leadership in the sector.
Neoen has secured 7 solar and agrivoltaic projects totaling 164 MWp as part of France's PPE2 tenders. These new installations will bring its secured capacity to over 2.5 GW, consolidating its leadership in the sector.
Masdar and SOCAR Green have closed the financing for two solar parks with a total capacity of 760 MW in Azerbaijan, a strategic project valued at USD 600 million and supported by multiple international financial institutions.
Arctech SkyWings enables the world's largest solar plant in a mining area to cut CO₂ emissions by 4.7 million tons annually while optimizing energy production through innovative and sustainable technologies.
Arctech SkyWings enables the world's largest solar plant in a mining area to cut CO₂ emissions by 4.7 million tons annually while optimizing energy production through innovative and sustainable technologies.
NextPower UK ESG, a private solar fund, reaches 515.5 MW capacity by adding Locks Solar Farm to its portfolio. This acquisition enhances its ESG impact and strengthens its role in the UK’s energy transition.
NextPower UK ESG, a private solar fund, reaches 515.5 MW capacity by adding Locks Solar Farm to its portfolio. This acquisition enhances its ESG impact and strengthens its role in the UK’s energy transition.
The decree mandating photovoltaic canopies in parking lots has drawn criticism from the retail sector, which highlights technical and financial challenges despite the implementation deadlines set for 2028.
The decree mandating photovoltaic canopies in parking lots has drawn criticism from the retail sector, which highlights technical and financial challenges despite the implementation deadlines set for 2028.
Chinese energy giant CHN Energy has inaugurated a 1 GW floating offshore solar park near Dongying, combining technological innovation and aquaculture to diversify its energy solutions and strengthen the country’s ecological transition.
TÜV Rheinland joins the Solar Energy Industries Association (SEIA) to support the U.S. solar industry with innovative services aimed at increasing the reliability and profitability of sustainable energy projects.
TÜV Rheinland joins the Solar Energy Industries Association (SEIA) to support the U.S. solar industry with innovative services aimed at increasing the reliability and profitability of sustainable energy projects.
Citicore Renewable Energy Corporation (CREC) has signed a 2 GW agreement with Trinasolar to supply its solar projects, aiming to support the Philippines' renewable energy ambitions.
Citicore Renewable Energy Corporation (CREC) has signed a 2 GW agreement with Trinasolar to supply its solar projects, aiming to support the Philippines' renewable energy ambitions.
Clearway cancels solar projects in Hawaii due to Hawaiian Electric's financial risks
Clearway cancels solar projects in Hawaii due to Hawaiian Electric's financial risks
ENGIE receives $81.7 million funding from the AIIB to accelerate its renewable energy initiatives in South Africa, aiming to bolster its expanding solar portfolio on the continent.
FREYR Battery announces the acquisition of Trina Solar’s U.S. production facilities, marking a step toward vertical integration of solar production in the United States.
FREYR Battery announces the acquisition of Trina Solar’s U.S. production facilities, marking a step toward vertical integration of solar production in the United States.
FTC Solar has entered a strategic agreement to supply over one gigawatt of solar trackers to Dunlieh Energy, starting with a 500 MW project in Nebraska, offering substantial economic benefits for the region.
FTC Solar has entered a strategic agreement to supply over one gigawatt of solar trackers to Dunlieh Energy, starting with a 500 MW project in Nebraska, offering substantial economic benefits for the region.
Westbridge sells 332 MW solar project in Alberta to METLEN
Westbridge sells 332 MW solar project in Alberta to METLEN
Solar inverter provider Sungrow has announced the supply of equipment for a major solar power plant in Brazil, with a capacity of 902 MWp, aiming to provide clean energy to a million households by 2025.
With a solar project integrating thermal storage and photovoltaics, Turfan in Xinjiang surpasses 10 billion kWh of annual production from renewable energy sources, marking a milestone in local energy transition.
With a solar project integrating thermal storage and photovoltaics, Turfan in Xinjiang surpasses 10 billion kWh of annual production from renewable energy sources, marking a milestone in local energy transition.
Hydro-Québec plans to diversify its energy sources by launching two tenders for an additional 300 MW of solar energy. This initiative supports Quebec's 2050 carbon neutrality goal.
Hydro-Québec plans to diversify its energy sources by launching two tenders for an additional 300 MW of solar energy. This initiative supports Quebec's 2050 carbon neutrality goal.
TotalEnergies ENEOS has finalized a 1.8 MWp floating solar system for S. Kijchai Enterprise in Thailand, allowing savings of 1,125 tons of CO2 per year and strengthening their transition to clean energy.
TotalEnergies ENEOS has finalized a 1.8 MWp floating solar system for S. Kijchai Enterprise in Thailand, allowing savings of 1,125 tons of CO2 per year and strengthening their transition to clean energy.

Advertising