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.
The cost of the projects is not available, but it will involve expanding AMEA Power’s existing solar power projects in Aswan by 1000MW and building a 500-wind power plant in Ras Ghareb, a city in the Red Sea Region, according to a report by solar headquarters.
AMEA Power is currently engaged in the construction of one gigawatt 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.
Established in 2016 and headquartered in Dubai, AMEA Power, a subsidiary of Al Nowais Investments, is one of the largest renewable energy companies in the region, with a clean energy portfolio exceeding six gigawatts spanning 20 countries.
Egypt is 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 per cent reduction in GHG emissions from electricity generation, transmission and distribution by 2030.