AMEA Power bags 25-year PPA for wind and solar projects in Egypt
AMEA Power, a subsidiary of Al Nowais Investments, 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.
A joint statement explained that Abyodos Solar Power Company (ASPC), a company fully owned by AMEA Power, will build, own and operate the 200MW solar project in the Kom Ombo region of Aswan under the 25 year take-or-pay agreement.
Whilst, Amunet Wind Power Company (AWPC), also fully owned by AMEA Power, will build, own and operate the 500MW 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 2.9GWh per year.
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.
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.”
The PPA was signed by Eng. Sabah Mashali, President of EETC and Hussain Al Nowais, Chairman of AMEA Power, on 10 December 2019, in the presence of Egypt’s Prime Minister, Mostafa Madbouly; the Minister of Electricity and Renewable Energy, Mohamed Shaker and the UAE Ambassador to Egypt Jomaa Al Junaibi, amongst others.
Source : esi-africa
