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AMEA Power & GreenCo Team Up For Renewables | |
| Sumita Pawar |
AMEA Power, a renewable energy company based in the Middle East, has signed a 25-year Power Purchase Agreement (PPA) with GreenCo Power Services for the energy offtake from an 85 MW solar PV power plant in South Africa.
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The project is set to be financed by Standard Bank of South Africa and is expected to achieve financial close and commence construction during the third quarter of 2023.
The solar plant will start delivering power to the national grid in early 2025 and will generate around 220 GWh of clean energy per year.
AMEA Power, GreenCo, and Standard Bank have also entered into a cooperation agreement that seeks to develop a fast-track model to stimulate the onboarding of renewable energy generation in South Africa.
The company has a clean energy pipeline of over 6GW across 16 countries and is rapidly expanding its investments in wind, solar, energy storage, and green hydrogen, demonstrating its long-term commitment to the global energy transition.