Egypt Approves AMEA Power’s Proposal to Build 1.5GW Wind Power Projects

Egypt has approved a proposal from AMEA Power, a United Arab Emirates-based renewable energy firm, to construct wind power projects with a combined capacity of 1,500 Megawatts (MW).

The projects will involve expanding AMEA Power’s existing solar power projects in Aswan by 1000 MW and building a 500 MW wind power plant in Ras Ghareb, a city in the Red Sea Region. The cost of the projects is not yet available.

AMEA Power is currently engaged in the construction of 1 GW of solar and wind plants in Egypt through its subsidiaries, Abydos Solar and Amunet Wind Power. In December, international partners, including the International Finance Corporation (IFC), announced a US$1.1 billion financing package to support AMEA Power’s projects in Egypt.

The new wind power projects will further bolster Egypt’s ambitious renewable energy development plans. The country is aiming to increase its renewable energy capacity to 42% of its total energy mix by 2030.

Egypt is also actively working to establish itself as a regional hub for renewable energy and is committed to global climate change mitigation efforts. In June, the Egyptian government updated its Nationally Determined Contributions (NDC), setting more ambitious targets for reducing greenhouse gas emissions (GHG) and securing the necessary funding for achieving these goals.

One of the key components of the NDC plan is a 37% reduction in GHG emissions from electricity generation, transmission and distribution by 2030. The new wind power projects from AMEA Power will play a significant role in helping Egypt achieve this goal.

AMEA Power is a subsidiary of Al Nowais Investments, one of the largest private investment companies in the United Arab Emirates. AMEA Power has a clean energy portfolio exceeding 6 GW spanning 20 countries. The new wind power projects in Egypt are expected to generate enough electricity to power over 1 million homes. The projects will also create thousands of jobs and boost the local economy. The Egyptian government is providing a number of incentives to support the development of renewable energy projects in the country, including tax breaks, feed-in tariffs, and land concessions

The approval of AMEA Power’s wind power projects is a positive development for Egypt’s renewable energy sector and its climate change mitigation efforts. The projects will help to increase the country’s renewable energy capacity, reduce its reliance on fossil fuels, and create jobs.

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