AMEA Power has achieved the financial close to delivering 1 GW of renewable energy projects in Egypt. The company's clean energy portfolio in the country now totals 2 GW after investing US$1.1 billion in 500 MW wind and 500 MW solar photovoltaic (PV) projects.
International Finance Corporation (IFC), Dutch Entrepreneurial Development Bank (FMO), and Japan International Cooperation Agency (JICA) are financing the PV project in Aswan. On the other hand, a consortium including Japan Bank for International Cooperation (JBIC) and IFC, along with Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and Sumitomo Mitsui Trust Bank as co-lenders under Nippon Export and Investment Insurance (NEXI) cover, are providing financing for the wind farm in the Red Sea Governorate, being developed with Sumitomo Corporation, who will own 40% equity.
Both projects have Power Purchase Agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC) and Usufruct Agreements. The New and Renewable Energy Authority (NREA) has completed feasibility studies.
Country updates
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November 22, 2022
Framework Agreement signed for 3.6 GW Hydrogen project in Egypt
Globeleq has signed a Framework Agreement to develop a large-scale green hydrogen facility within the Suez Canal Economic Zone, Egypt.
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November 18, 2022
AMEA Power signs framework agreement to develop 1 GW green hydrogen project in Suez
AMEA Power and the Government of Egypt have signed a Framework Agreement for the development of a 1,000 MW green hydrogen project for the production of green ammonia for export. AMEA Power has collab...
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November 18, 2022
JUWI commissions 36 MW solar with 7.5 MW energy storage project in Sukari Gold Mine
JUWI Gruppe has commissioned its 36 MW solar project with bifacial photovoltaic (PV) panels installed on trackers and a 7.5 MW battery energy storage facility at the Sukari gold mine in Egypt. The hy...
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November 17, 2022
Framework Agreement signed for 1 GW hydrogen project in Egypt
AMEA Power has signed a Framework Agreement with the Government of Egypt to develop a 1,000MW green hydrogen project located at the coastal town of Ain Sokhna in the Suez Governorate, Egypt....
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November 14, 2022
Consortium starts construction of 500 MW wind project in Egypt
The consortium of Orascom Construction, Toyota Tsusho, Eurus Energy Holdings, and Engie has started the construction of the 500 MW wind farm located in Ras Gharib on the Gulf of Suez in Egypt.&nb...
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