SOUTH AFRICA – AMEA Power, a leading renewable energy developer in the Middle East, has announced the financial closing of the 120 MW Doornhoek solar PV project in South Africa.
This project costs US$120 million and is the company’s first operational project in South Africa. It aims to generate 325 gigawatt hours of clean energy annually, providing energy to about 97 thousand homes.
Project financing was secured through a combination of loans and equity; Standard Bank South Africa provided a US$100 million loan to AMEA Power, while the Industrial Development Corporation contributed US$8 million in equity financing to local partners, Ziyanda Energy and Dzimuzwo Energy, two companies wholly owned by African women.
The Doornhoek solar PV project is expected to significantly contribute to South Africa’s goal of having 22% of the energy mix come from renewable energy by 2030.
“We are pleased to achieve the financial close of the Doornhoek Solar PV Project,” Hussain Al Nowais, Chairman of the Board of Directors of AMEA Power, said.
“South Africa is a major market for renewable energy, and we are committed to supporting the country’s journey towards a sustainable future through our solar PV projects.”
Situated near Klerksdorp in the North West province, the Doornhoek Solar Project is expected to produce over 325 GWh of clean energy annually, providing power to an estimated 97,000 households and offsetting 330,000 tonnes of carbon emissions each year upon completion.
This initiative aligns with South Africa’s renewable energy target, constituting 22% of the energy mix by 2030.
In addition to the Doornhoek project, AMEA Power is also implementing a 120 MW solar PV project in Tunisia, the Kairouan Solar PV Project, which began construction last month.
The Doornhoek solar photovoltaic project is expected to reduce carbon emissions by 330 thousand tons annually, while the Kairouan solar photovoltaic project will reduce them by 117 thousand tons during its operation period.
AMEA Power’s investments in renewable energy projects in South Africa and Tunisia demonstrate its commitment to supporting clean energy growth in the region, enhancing energy security, and achieving sustainable development.
In May this year, AMEA Power successfully secured a 20-year Power Purchase Agreement (PPA) with Eskom, a major regional utility company, for the 120MW Doornhoek Solar Photovoltaic (PV) Project.
The project, awarded through Bid Window 6 of the Renewable Energy Independent Power Producer Procurement (REIPPP), signifies AMEA Power’s strategic entry into South Africa’s rapidly expanding renewable energy market.
AMEA Power holds the majority stake in the US$120 million Solar PV Project and has collaborated with African women-owned companies, Ziyanda Energy and Dzimuzwo Energy, as partners.
To strengthen its presence in the South African market, AMEA Power established an office in Johannesburg in 2023, serving as the company’s regional hub for Southern Africa.
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