AMEA agrees 1-gigawatt solar and wind power project in Egypt

Dubai, United Arab Emirates-based renewable energy company AMEA Power LLC has signed financing agreements for 500 megawatts each of solar and wind power capacity in Egypt. The total investment amounts to $ 1.1 billion.
AMEO will develop, own and operate a 500-megawatt solar power plant in Aswan Governorate. Financing for the plant is being provided by the International Finance Corporation (IFC), part of the World Bank, the Dutch development bank FMO and the Japan International Cooperation Agency (JICA). The 500-megawatt wind farm in the al-Bahr al-ahmar governorate is being built in cooperation with the Japanese Sumitomo Corporation. Power purchase agreements (PPAs) have already been agreed with the utility Egyptian Electricity Transmission Company (EETC) for both plants.

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