Egypt Finalizes $1.1B Deal with AMEA Power to Implement Two Renewable Energy Projects

Egypt Finalizes $1.1B Deal with AMEA Power to Implement Two Renewable Energy Projects

Prime Minister Mostafa Madbouly witnessed the signing of financial closure agreements between AMEA Power from the UAE and a number of international financing institutions worth $1.1 billion to construct two renewable power stations in the Jabal Al-Zayt area of ​​​​Red Sea Governorate and Kom Ombo in the Aswan Governorate, with a production capacity of 1000 megawatts.

It should be noted that the financial closure in this case refers to reaching an agreement with international institutions to secure the necessary financing, marking the start of the implementation of the two projects.

On the sidelines of the signing, Mohamed Shaker, Minister of Electricity and Renewable Energy, said that AMEA Power was able to achieve a successful financial closure with the aim of establishing two plants to produce electricity from solar energy and wind energy, with a capacity of 1,000 megawatts, which would enhance the Egyptian market’s dependence on renewable energy sources.

 

Sarah Samir 2950 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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