AMEA Power Is Rapidly Converting Communities With Clean Power

AMEA Power announced at the end of November that it had achieved the financial close to deliver 1GW (gigawatts) of renewable energy projects in Egypt.

According to the report, the landmark 500MW (megawatt) wind and 500MW solar projects, represent $1.1bn of investment into the Egyptian economy and takes the Company’s clean energy portfolio to 2GW in the country.

For the project mentioned AMEA Power will develop, own and operate the 500MW solar PV plant, which will be located in the Aswan governorate of Egypt.

The Project is being financed by International Finance Corporation (IFC), part of the World Bank Group, Dutch Entrepreneurial Development Bank (FMO) and the Japan International Cooperation Agency (JICA).

The 500MW wind farm, located in the Red Sea Governorate, is being developed in partnership with Sumitomo Corporation, who will own 40% equity in the Project.

Money for the project is raised by a consortium of banks, including Japan Bank for International Cooperation (JBIC) and IFC, together with Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and Sumitomo Mitsui Trust Bank participating as co-lenders under Nippon Export and Investment Insurance (NEXI) cover.

Both projects have already secured Power Purchase Agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC) and Usufruct Agreements, with the New and Renewable Energy Authority (NREA) having already completed its feasibility studies, according to the statement.

Report stated, in November, AMEA Power announced the expansion of the ‘Mohammed Bin Zayed Solar Power Plant’ in Togo, from 50MW to 70MW, making it the largest solar PV plant in West Africa.

Project is expected to supply power to more than 222,000 households and will include a 4WMh Battery Energy Storage System to extend the availability of clean energy to the electricity network at night.

Report said, AMEA Power currently holds a portfolio of nearly 6GW of renewable energy projects across the African continent, with 230MW currently either in operation or under construction and 5.7GW in the pipeline.

“We are working on a solar power project in Mali and are finalising the legal documentation. In Burkina Faso, a solar project in under construction with funding from IFC and Emerging Africa,” says Hussain Jasim AlNowais, CEO and Chairman, AMEA Power, mentioned the report.

Al Nowais says that he is currently in advanced discussions with Ethiopia for a 300MW wind power project that will harness the country’s vast wind resources.

Report highlighted, in Southern Africa, discussions are ongoing with Zambia for a 150MW solar PV project, while a Memorandum of Understanding (MoU) has been signed with Malawi for a 50MW solar PV project.

Al Nowais stated, they have signed an MoU in Angola for 150 MW of solar PV. In North Africa, they have won through a competitive bidding tender 100MW of solar PV, which is being financed by the IFC and the African Development Bank, he added, in Morocco, they have closed the financing of a 30MW solar PV project in the Tangier region and are also exploring a 100MW wind project. They are also active in Tunisia.

According to the report,“Al Nowais is one of the first people that have dared to venture into hydrogen in Africa with unwavering confidence in the enormous potential that the technology holds”.

One solution to low power access that continues to hold a lot of promise to many African countries is regional power interconnectivity, says the report.

 This is also an area that AMEA Power finds appealing especially with initiatives such as the South African Power Pool (SAPP) and the East African Power Pool (EAPP).

Due to limitations in power transmission, Al Nowais says that off-grid and mini-grid solutions such as commercial and Industrial (C&I) solar installations can come in handy to boost sectors such as mining, meant the statement in the report.

“We have done a bit of C&I to support major off-takers in mining as well as industrial companies in areas that are not connected to the grid. We see potential in that,” says Al Nowais.

Report concludes success of AWEA Power comes from partnering with the local communities in every project, right from employment and training opportunities, to the provision of social services such as schools and hospitals.

“At the end of the project, you cannot imagine the pleasure I get when I go to these remote villages and see the happy faces of people whose children are finally in schools that have electricity and see citizens being treated in clinics that operate on power. That is a great feeling. I’m very proud of it.” – Al Nowais commented happily.

By Sumita Pawar