AMEA Power closes US$1.1 billion for 1GW of Egyptian solar and wind

Facebook
Twitter
LinkedIn
Reddit
Email
The 1GW of solar and wind projects will double AMEA Power’s Egyptian renewables capacity. Image: AMEA Power.

AMEA Power, the Middle Eastern renewable energy company, has closed financing on 1GW of renewable energy projects to be deployed in Egypt, constituting a 500MW solar PV plant and a 500MW wind farm.

The projects represent US$1.1 billion of investment, provided by the International Finance Corporation (IFC), which is part of the World Bank Group, the Dutch Entrepreneurial Development Bank and the Japan International Cooperation Agency.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

AMEA will handle the development and operation of the solar project, to be located in the Aswan governorate in southern Egypt. The project already has a power purchase agreement in place with the Egyptian Electricity Transmission Company. Usufruct agreements and feasibility studies have also already been completed.

“These landmark projects reflect the long-term commitment, ambition and growth of AMEA Power. The company is leading the development of renewable energy across Africa, which through its global and regional partnerships, will deliver clean energy to millions of people around the continent,” Hussain Al Nowais, chairman of AMEA Power said.

With these projects, AMEA Power will double its renewable energy capacity in Egypt to 2GW. The country is targeting 42% renewable energy supply by 2032, and earlier this month at the COP27 conference the Egyptian government signed an agreement with the Asian Infrastructure Investment Bank to mobilise investment to deploy 10GW of solar and wind by 2028.

Cheick-Oumar Sylla, IFC regional director for North Africa and Horn of Africa said: “These projects highlight the private sector’s essential role helping to deliver clean, affordable power, especially at a time of growing challenges from climate change and pressures on the environment.”

Read Next

October 8, 2025
Saatvik Green Energy has secured new solar PV module orders worth more than INR7 billion (US$84 million), to be delivered in this financial year.
October 8, 2025
Australia's NEM achieved a new minimum operational demand record of 9,666MW, marking a 4% decrease from the previous record.
October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 7, 2025
Econergy will acquire 100% stake in the 155MW Ratesti solar project in Romania, further expanding its European renewable energy portfolio.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK