Last Updated on January 2, 2024 by News Editor
In an era where the world is embracing the imperative shift towards sustainable energy solutions, the significance of renewable energy projects cannot be overstated. These projects offer a lifeline to combat climate change, reduce reliance on fossil fuels, and create a greener, more sustainable future. Standing tall amidst this transformative landscape, AMEA Power’s milestone in Egypt represents a remarkable stride towards achieving these objectives.
AMEA Power has successfully secured funding for an ambitious solar power plant and wind farm development in Egypt. AMEA Power has positioned itself at the forefront of driving sustainable change across Africa through its unwavering commitment to renewable energy. By forging global and regional partnerships, the company is poised to deliver clean energy to millions throughout the continent.
Japan’s Green Collaboration: AMEA Power’s 500 MW Wind Farm in the Red Sea
In Egypt’s Aswan governorate, a groundbreaking endeavor is underway as a Dubai-based company spearheads the development of a remarkable 500-megawatt solar photovoltaic (PV) plant. This visionary project received financial backing from notable institutions such as the International Finance Corporation, the Dutch Entrepreneurial Development Bank, and the Japan International Cooperation Agency. Simultaneously, in the Red Sea region, a wind farm with a 500-megawatt capacity is taking shape through a strategic partnership between the Dubai-based company and Japan’s Sumitomo Corporation, which secured 40 percent equity. A consortium of esteemed banks, including the Japan Bank for International Co-operation and IFC, joined forces to provide the necessary financing for this groundbreaking endeavor.
Private Sector Powerhouses: AMEA Power’s Renewable Role in Egypt
These renewable energy projects underscore the vital contribution of the private sector to providing clean and affordable power amidst the mounting challenges of climate change and environmental pressures. Egypt’s ambitious renewable energy objectives have prompted support for AMEA’s expansion into Africa, as well as its partnership with Egypt to expedite the nation’s transition to renewable energy. Currently, AMEA Power generates approximately 2 gigawatts of clean energy through solar and wind plants across 15 countries, with plans to increase their output to 5 gigawatts within the next three years. Furthermore, their ongoing endeavor includes the construction of an impressive 100-MW solar plant in Tunisia.
Egypt’s Renewable Revolution: Aiming for 42% by 2035
Egypt aims to achieve 42% renewable energy sources by 2035, up from 11% in 2019. Acwa Power’s recent agreement to construct a 10-gigawatt wind farm positions it as a potential global leader. Egypt’s Suez Canal Economic Zone secured $83 billion in green energy deals at the UN’s Cop27 summit, facilitating the production of 7.6 million tonnes of green ammonia and 2.7 million tonnes of hydrogen annually. AMEA Power’s partnership with Egypt for a 1,000-megawatt green hydrogen project in the Suez Governorate will produce 800,000 tonnes of green ammonia for domestic and export use.