AMEA Power launches 500MW wind farm in Egypt
The project reinforces Egypt's role as a key player in Africa's renewable energy transition.
Developed as a joint venture between AMEA Power, which holds a 60% stake, and Japan's Sumitomo Corporation with 40%, the Amunet Wind Power Plant is expected to produce around 2,500 gigawatt-hours of electricity annually.
This is enough to power more than 500,000 homes while avoiding 1.4 million tons of carbon dioxide emissions each year.
The commissioning comes just months after AMEA Power inaugurated a 500MW solar PV plant in Aswan in November 2024.
With both projects, the company has now brought 1 gigawatt of clean energy capacity online in Egypt within six months.
Constructed 2.5 months ahead of schedule, the wind farm employed over 800 workers at peak and included local training programs aimed at youth in nearby communities.
The initiative reflects AMEA Power's focus on socio-economic development, job creation, and long-term skills building.
The project was financed by a consortium including the Japan Bank for International Cooperation (JBIC), International Finance Corporation (IFC), Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, and Standard Chartered Bank.
The commercial tranche was insured by Nippon Export and Investment Insurance (NEXI), with working capital support from Egypt's Commercial International Bank (CIB).
The Ras Ghareb wind farm is part of AMEA Power's expanding portfolio in Egypt, which also includes its Aswan solar plant and several other pipeline projects.
These include a 1,000-megawatt solar PV development with 600-megawatt-hour battery storage in Aswan, a second 500-megawatt wind project in the Red Sea Governorate, an extension of the Aswan solar plant with a 300-megawatt-hour storage system, a 500-megawatt-hour battery energy storage project in Zarfana, and a 1,000-megawatt-hour facility planned for Benban.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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