HomeNewsFinancial close attained for Abydos solar and Amunet wind power projects in...

Financial close attained for Abydos solar and Amunet wind power projects in Egypt

Abydos solar and Amunet wind power projects implementation is set to begin in Egypt foolowing a financial close for the 1,000-MW project. This was announced by AMEA Power Ltd.

The 500MW Abydos solar plant, which is situated 600km south of Cairo in the Aswan governorate, and the 500MW Amunet wind farm, which is situated 318km south of Cairo in the Red Sea governorate, will be built, owned, and operated by the fully owned subsidiaries of the United Arab Emirates-based AMEA Power—Abydos Solar Power Co. and Amunet Wind Power Co. Completion of these two projects would increase AMEA Power’s clean energy projects in Egypt to 2 GW. The lowering costs for renewable energy sources are one factor driving the projects.

Search for construction leads
  • Region/Country

  • Sector

Also Read: TAQA Arabia sign MoU on renewable energy and green hydrogen projects in Egypt

Remarks on the 1,000-MW Abydos solar and Amunet wind power projects in Egypt

“These historic projects are a reflection of AMEA Power’s long-term dedication and expansion,” says Hussain, chairman of AMEA Power.

Cheick-Oumar Sylla, regional director for IFC in North Africa and the Horn of Africa said, “The two renewable energy projects highlight the private sector’s essential role. Helping to deliver clean, affordable power, especially at a time of growing challenges from pressures on the environment”

Sylla added, “We are happy to support AMEA’s growth into Africa and its relationship with Egypt. In order to hasten the country’s transition to renewable energy because of Egypt’s lofty renewable energy aspirations.”

AMEA Power was unable to guarantee when the solar and wind power projects would begin. However, the company anticipates the wind farm to go online in the second quarter of 2025. And the solar photovoltaic (PV) facility to go online in the first quarter of 2025.

International Finance Corp. (IFC), Dutch Entrepreneurial Development Bank, and Japan International Corp. Agency (JICA) have all supplied funding for the Abydos PV project. The developer of the wind farm project is a joint venture with Japanese investment behemoth Sumitomo Corp.  Funding has been provided by Japan Bank for International Cooperation, IFC, Standard Chartered Bank, and Commercial International Bank. Under the Nippon Export & Investment Insurance, Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Trust Bank are taking part in the project as co-lenders.

Egypt had set renewable energy targets of 20% of its electricity mix by 2022 and 42% by 2035.

Must Read

Arror and Kimwarer dams in Kerio Valley, Kenya

Four years after being halted, work on the Kerio dams, consisting of the Arror and Kimwarer dams, is set to resume. This comes after...

Construction of new homes for deportees in Rwanda launched

The foundation stone has been laid for the construction of new homes for deportees in Rwanda. According to Rwanda's Infrastructure Ministry, the project will have...

Plans approved for construction of 32-storey tower at Leadenhall Market in London

Plans have been approved for the construction of a 32-storey tower at Leadenhall Market in London. The Square Mile's "tourist appeal" will be boosted...

The Netherlands to build the world’s largest offshore hydrogen production plant

For the construction of the world’s largest offshore hydrogen production plant in the Netherlands, the Dutch government has selected an area. The area is...

Top construction companies in South Africa

Over the years, South Africa’s construction industry has faced challenges fraught with labor unrest, substantial delays on some of the country’s major construction projects,...

Dosti Realty Launches The Dosti Eden Residential Project

Leading real estate builder and developer in Mumbai and Thane Dosti Realty, has launched phase 2 of the Dosti Eden Residential Project. Similar to the...


Please enter your comment!
Please enter your name here