UAE's AMEA Power commissions Egypt's largest solar plant
Egypt's Aswan governorate is set to host the country’s largest solar project in a deal with the Emirati energy firm.
UAE energy firm AMEA Power has commissioned a 500-megawatt solar plant in Egypt's Aswan governorate to become the North African country’s largest solar project.
The plant was financed by the International Finance Corporation, Dutch Entrepreneurial Development Bank and the Japan International Cooperation Agency. It was completed in 18 months, AMEA Power said in a statement. Its solar panels were provided by the Chinese firm JA Solar.
The facility will generate around 1,500 gigawatt hours of clean energy yearly, enough to power around 300,000 households while offsetting 782,300 metric tons of CO2 emissions.
AMEA Power chair Hussain Al Nowas wrote in the statement, “The solar power plant represents a major step forward in Egypt's renewable energy strategy, supporting the goal of achieving 42% of energy production from renewable sources by 2030.”
The statement read that AMEA Power also signed a power purchase agreement and land agreement for an additional 500-megawatt wind project in Egypt’s Red Sea governorate.
AMEA Power announced it had raised $1.1 billion for the project and the wind farm in November 2022. According to the UAE-based company, the farm is expected to become operational in January 2025.
In September 2024, AMEA Power was awarded two major projects in Egypt, including a 1000-megawatt solar plant with a 600 megawatt-hour battery energy storage system and a 300 megawatt-hour extension of the Abydos solar plant.
The UAE has grand plans to invest in Egypt, including in energy projects. The Abu Dhabi-based sovereign wealth fund ADQ announced in February that it would invest $35 billion in Egypt, with $11 billion allocated for investment projects. The remaining $24 billion was spent to acquire the development rights for Ras El-Hekma, a coastal area west of Alexandria.
Egypt and the Emirates have signed preliminary agreements for several large energy projects, including two plants to produce solar cells and panels, a battery energy storage center and multiple solar and wind projects.
