Dubai-based AMEA Power said it has secured funding to develop a solar plant and a wind farm in Egypt.
The projects, which represent a $1.1 billion investment in the north African country’s economy, have power purchase agreements in place with the Egyptian Electricity Transmission Company (EETC) and usufruct agreements with the New and Renewable Energy Authority (NREA), an Egyptian government body, the company said in a statement on Wednesday.
“The company is leading the development of renewable energy across Africa, which through its global and regional partnerships, will deliver clean energy to millions of people around the continent,” said Hussain Al Nowais, chairman of AMEA Power.
The Dubai-based company is developing a 500-megawatt solar photovoltaic (PV) plant in Egypt’s Aswan governorate.
The project is being financed by the International Finance Corporation, a World Bank arm that focuses on the private sector, Dutch Entrepreneurial Development Bank and the Japan International Co-operation Agency, AMEA Power said.
The wind farm, which is also expected to have a capacity of 500 megawatts, will be in the Red Sea region and is being developed in partnership with Japan’s Sumitomo Corporation, which will own 40 per cent equity in the project.
Financing is being provided by a consortium of banks, including Japan Bank for International Co-operation and IFC, the company said.
“These projects highlight the private sector’s essential role in helping to deliver clean, affordable power, especially at a time of growing challenges from climate change and pressures on the environment,” Cheick-Oumar Sylla, IFC regional director for North Africa and Horn of Africa, said.
“Egypt has ambitious renewable energy goals and we are proud to support AMEA’s expansion into Africa as well as its partnership with Egypt to accelerate the country’s renewable energy transition.”
AMEA Power, which currently produces about 2 gigawatts of clean energy through solar and wind energy plants in 15 countries, plans to raise its output to 5 gigawatts in the next three years. It is also building a 100-megawatt solar plant in Tunisia.
Egypt, one of Africa’s largest economies, aims to increase its renewable energy sources to 42 per cent by 2035, from about 11 per cent in 2019.
Earlier this month, Saudi Arabia's Acwa Power signed an initial agreement to build a 10-gigawatt wind farm in the country, which could be the world's second-largest wind farm.
Egypt’s Suez Canal Economic Zone signed $83 billion worth of green energy deals and nine agreements at the UN climate summit Cop27. The facilities would collectively produce up to 7.6 million tonnes of green ammonia and 2.7 million tonnes of hydrogen annually.
Hydrogen, which is produced from both renewable energy and natural gas, is expected to become a critical fuel as economies and industries transition to a low-carbon world.
It comes in various forms, including blue, green and grey. Blue and grey hydrogen are produced from natural gas, while green is derived from splitting water by electrolysis.
Low-carbon ammonia, made from nitrogen and clean hydrogen, is the most promising at-scale hydrogen carrier and potential clean fuel for a wide range of applications, including transport, power generation and fertiliser production.
AMEA Power has also signed a framework agreement with Egypt to develop a 1,000-megawatt green hydrogen project for the production of green ammonia. The project, to be located in Egypt’s Suez Governorate, will have the capacity to produce 800,000 tonnes of green ammonia a year for domestic use and export.
Earlier this year, the country signed a $3 billion agreement month with a consortium led by French firm EDF Renewables and Egyptian company Zero Waste to develop a green hydrogen megaproject in Ain Sokhna on the Red Sea that will produce up to 350,000 tonnes of green fuel annually for ships passing through the Suez Canal.
MATCH INFO
AC Milan v Inter, Sunday, 6pm (UAE), match live on BeIN Sports
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
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Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
UAE currency: the story behind the money in your pockets
Tewellah by Nawal Zoghbi is out now.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
Rating: 1/5
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
