popular articles

Egypt, AMEA reaches $1.1 billion agreement

In Egypt, AMEA Power signs a $1.1 billion deal to deploy 1GW of wind and solar power at Africa's largest wind farm.

Please share:

In Egypt, AMEA Power signs a $1.1 billion deal to deploy 1GW of wind and solar power at Africa’s largest wind farm .

A strategic agreement

In Egypt, the agreement concluded by AMEA Power in Egypt concerns a 500MW photovoltaic plant. The project also includes a 500MW wind farm estimated to be the largest in Africa. As a result, AMEA Power’s clean energy portfolio will increase to 2GW in the country.

The historic 500MW wind and 500MW solar projects represent $1.1 billion of investment in the Egyptian economy. The 500MW solar photovoltaic power plant will be located in the governorate of Aswan in Egypt. It will receive funding from the International Finance Corporation (IFC).

It is part of the World Bank Group, the Netherlands Bank for Entrepreneurial Development (FMO). In addition, the Japan International Cooperation Agency (JICA) is also involved in the project. The 500 MW wind farm will be located in the Red Sea Governorate.

Sumitomo Corporation will hold 40% of the project’s capital. The financing comes from a consortium of banks. The Japan Bank for International Cooperation (JBIC) and IFC are participating in the financing. Standard Chartered Bank, Commercial International Bank, Sumitomo Mitsui Banking Corporation also join the banking consortium.

Ambitions for Egypt

The two projects developed in Egypt already have Power Purchase Agreements (PPA) with the Egyptian Electricity Transmission Company (EETC) and usufruct agreements. The New and Renewable Energy Authority (NREA) is finalizing its feasibility studies. In addition, AMEA Power recently signed a memorandum of understanding with the Egyptian government.

This agreement was reached on the sidelines of the United Nations Climate Change Conference (COP27) in Sharm el-Sheikh. The objective is to develop a large-scale renewable hydrogen project. The project will be used as a feedstock for the production of ammonia.

Once completed, the 1 GW plant will be able to produce 800,000 tons of green ammonia per year for export. The projects undertaken by AMEA Power are aimed at supporting Egypt’s green ambitions. They also support the economic and social development of the country.

Hussain Al Nowais, President of AMEA Power, states:

“These flagship projects reflect AMEA Power’s commitment, ambition and long-term growth. The company is leading the development of renewable energy across Africa, which, through its global and regional partnerships, will provide clean energy to millions of people across the continent.”

The Egyptian government is working to increase the supply of electricity from renewable sources to 42% by 2035. Therefore, AMEA Power is responding to Egypt’s demand and ambitions.

Register free of charge for uninterrupted access.

Publicite

Recently published in

France proposes a stronger alliance between the European Union and China to counter the absence of the United States in the fight against climate change, with a summit scheduled for July 2025.
Hydro-Québec announces a 10 G$ investment to enhance energy efficiency through various initiatives by 2035, creating over 5,000 jobs and reducing operating costs for Quebec customers.
Hydro-Québec announces a 10 G$ investment to enhance energy efficiency through various initiatives by 2035, creating over 5,000 jobs and reducing operating costs for Quebec customers.
The UK government and Italian energy company Eni have announced the financial closing of a project aimed at burying millions of tonnes of CO2 in the Irish Sea, an ambitious initiative to reduce industrial emissions.
The UK government and Italian energy company Eni have announced the financial closing of a project aimed at burying millions of tonnes of CO2 in the Irish Sea, an ambitious initiative to reduce industrial emissions.
The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
Countries such as Brazil and Australia are criticised for overstating the CO2 absorption capacity of their forests, a practice that undermines their commitment to reducing greenhouse gas emissions, according to a report by Climate Analytics.
In London, global officials gather to discuss energy security amid rising geopolitical tensions. Disagreements persist on the role of renewable energy in meeting global demand.
In London, global officials gather to discuss energy security amid rising geopolitical tensions. Disagreements persist on the role of renewable energy in meeting global demand.
As a parliamentary debate approaches, twenty energy organizations urge lawmakers to act to reduce France's reliance on fossil fuels by accelerating the electrification of uses.
As a parliamentary debate approaches, twenty energy organizations urge lawmakers to act to reduce France's reliance on fossil fuels by accelerating the electrification of uses.
Nigeria aims to increase its electricity production capacity by 4,000 MW by 2026 to meet the growing demand of the industrial sector, in a context of reforms and partnerships with international players.
Nigeria aims to increase its electricity production capacity by 4,000 MW by 2026 to meet the growing demand of the industrial sector, in a context of reforms and partnerships with international players.
EDF’s outgoing CEO, Luc Rémont, claims French electricity will be more competitive than that of the United States, despite ongoing criticisms from industrialists about high tariffs.
Donald Trump's aggressive trade policies and regulatory uncertainty in the United States are slowing investments in wind, solar, and energy storage, pushing the sector into a period of caution and market volatility.
Donald Trump's aggressive trade policies and regulatory uncertainty in the United States are slowing investments in wind, solar, and energy storage, pushing the sector into a period of caution and market volatility.
The French government activates five funding mechanisms to support industrial decarbonisation projects through the France 2030 plan, targeting major sites, SMEs and high-emission industrial zones.
The French government activates five funding mechanisms to support industrial decarbonisation projects through the France 2030 plan, targeting major sites, SMEs and high-emission industrial zones.
Paris releases a new €400mn funding package to support industrial projects aimed at reducing emissions under the France 2030 programme.
Paris releases a new €400mn funding package to support industrial projects aimed at reducing emissions under the France 2030 programme.
The massive withdrawal of American financial support and the reduction of European aid could jeopardize energy projects in Africa, profoundly altering their financing structure and the continent's commitments.
The Vietnamese government has raised its renewable energy targets in a new version of its national energy plan, responding to continued growth in electricity demand.
The Vietnamese government has raised its renewable energy targets in a new version of its national energy plan, responding to continued growth in electricity demand.
A massive outage plunged Puerto Rico into darkness on Wednesday, leaving approximately 1.1 million households without electricity after an unexpected shutdown of all its power plants.
A massive outage plunged Puerto Rico into darkness on Wednesday, leaving approximately 1.1 million households without electricity after an unexpected shutdown of all its power plants.
The Czech Republic has ended its dependency on Russian oil after more than six decades, a major shift made in response to Russia's invasion of Ukraine.
The Czech Republic has ended its dependency on Russian oil after more than six decades, a major shift made in response to Russia's invasion of Ukraine.
The European power purchase agreement (PPA) market for renewables reached 19 GW of new capacity in 2024, with growing momentum for hybrid contracts including storage.
Industry Minister Marc Ferracci criticised the Rassemblement National's stance on energy, accusing it of hindering planned investments in renewables in favour of fossil fuel imports.
Industry Minister Marc Ferracci criticised the Rassemblement National's stance on energy, accusing it of hindering planned investments in renewables in favour of fossil fuel imports.
Bill 69 sparks protests in Saint-Jean-sur-Richelieu, where several organisations denounce a risk of privatising Quebec’s electricity sector.
Bill 69 sparks protests in Saint-Jean-sur-Richelieu, where several organisations denounce a risk of privatising Quebec’s electricity sector.
Wind and solar energy accounted for nearly one-fifth of Türkiye’s electricity generation in 2024, according to an analysis by think tank Ember, driven by a strong increase in installed capacity.
Wind and solar energy accounted for nearly one-fifth of Türkiye’s electricity generation in 2024, according to an analysis by think tank Ember, driven by a strong increase in installed capacity.
France’s multi-year energy strategy shifts focus away from photovoltaics toward flexibility measures, including battery storage, to address growing imbalances in the electricity market.
France’s energy regulator unveils its first observatory dedicated to renewable electricity purchase agreements, highlighting a recent but still marginal growth compared to State-backed mechanisms.
France’s energy regulator unveils its first observatory dedicated to renewable electricity purchase agreements, highlighting a recent but still marginal growth compared to State-backed mechanisms.
The French government plans to adopt within two weeks a decree outlining the decade’s energy objectives, restarting nuclear power and preparing for a parliamentary debate on energy sovereignty.
The French government plans to adopt within two weeks a decree outlining the decade’s energy objectives, restarting nuclear power and preparing for a parliamentary debate on energy sovereignty.
The expansion of solar and wind capacity is multiplying hours of negative prices on European electricity markets, weakening the sector's economic balance while reshaping export and storage dynamics.
The expansion of solar and wind capacity is multiplying hours of negative prices on European electricity markets, weakening the sector's economic balance while reshaping export and storage dynamics.

Advertising