AMEA Power inks Egypt's 500MW wind, 200MW solar project deals
Dubai-based firm's Abyodos Solar Power Company and Amunet Wind Power Company to build solar and wind power plants
Dubai-based AMEA Power, a subsidiary of Al Nowais Investments (ANI) has inked a power purchase agreement (PPA) with The Egyptian Electricity Transmission Company (EETC) to build a 200MW solar photovoltaic (PV) project and a 500MW wind power project in Egypt.
As part of the agreement, Abyodos Solar Power Company (ASPC) that is fully-owned by AMEA Power, will build-own-operate the 200MW solar project in the Kom Ombo region of Aswan under a 25-year take-or-pay agreement.
Meanwhile, Amunet Wind Power Company (AWPC), a part of AMEA Power, will build-own-operate the 500MW wind power project in the Ras Ghareb area under a 20-year take-or-pay agreement.
In a statement, AMEA Power said that the solar plant project is expected to be commissioned in Q4 2021, whilst the wind power project in Q3 2023. The power plants will together be abe to fulfil the power needs of approximately 830,000 homes, with planned production of nearly 2.9GWh each year.
Through the utility projects, AMEA Power will contribute 42% to Egypt’s energy mix by 2035.
The PPA was signed by president of EETC, Eng. Sabah Mashali and chairman of AMEA Power, Hussain Al Nowais, in the presence of Egypt’s Prime Minister, HE Mostafa Madbouly; the minister of electricity and renewable energy, HE Mohamed Shaker, and the UAE Ambassador to Egypt, HE Jomaa Al Junaibi.