DUBAI, United Arab Emirates–(BUSINESS WIRE)–AMEA Power, one of the fastest growing renewable energy companies in the Middle East, announced today that it has achieved the financial close to deliver 1GW of renewable energy projects in Egypt. The landmark 500MW wind and 500MW solar projects, represent US$1.1 billion of investment into the Egyptian economy and takes the Company’s clean energy portfolio to 2GW in the country.
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…