PPA for 700 MW wind and solar projects signed in Egypt
AMEA Power, a subsidiary of Al Nowais Investments (ANI), has signed a power purchase agreement (PPA) with The Egyptian Electricity Transmission Company (EETC) for a 200 MW solar PV project and a 500 MW wind power project in Egypt.
The PPA was signed by EETC and AMEA Power on December 10th, 2019.
Abyodos Solar Power Company (ASPC), a company fully owned by AMEA Power, will build, own and operate the 200 MW solar project in the Kom Ombo region of Aswan under the 25-year take-or-pay agreement.
Amunet Wind Power Company (AWPC), also fully owned by AMEA Power, will build, own and operate the 500 MW wind power project in the Ras Ghareb area under the 20-year take-or-pay agreement.
The power plants, expected to be commissioned in Q4 2021 for solar and Q3 2023 for wind, will be able to supply power to approximately 830,000 homes, with planned production of nearly 2.9 GWh per year.
Speaking at the signing ceremony, AMEA Power’s Chairman, Hussain Al Nowais,said “As we continue to expand our global presence, we are delighted to embark on these renewable energy projects in Egypt. We are thankful for all the support that we have received in the country and we look forward to continuing to support Egypt in its drive to diversify its energy mix.”
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