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 200MW solar PV project and a 500MW wind power project in Egypt.
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, said a statement from the company.
AMEA Power said as per the deal, one of its companies, Abyodos Solar Power Company (ASPC), will build, own and operate the solar plant in the Kom Ombo region of Aswan under a 25-year take-or-pay agreement, while its other company, Amunet Wind Power Company (AWPC) will be responsible for the construction, ownership, and operation of the 500MW wind power project in the Ras Ghareb area under the 20-year take-or-pay agreement.
The project confirms the dedication of AMEA Power to support the country’s firm goal of increasing the renewables contribution by 42% to its energy mix by 2035, said Hussain Al Nowais, the Chairman of AMEA Power, after signing the PPA with EETC President Engineer Sabah Mashali.
“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,” he added.
The signing ceremony was attended by Egypt’s Prime Minister, Dr. Mostafa Madbouly; the Minister of Electricity and Renewable Energy, Mohamed Shaker and the UAE Ambassador to Egypt Jomaa Al Junaibi.
TradeArabia News Service