AMEA Power Signs Agreements for Renewable Energy Stations Worth BillionsSource: www.export-egypt.com 11/30/2022, Location: Africa |
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Prime Minister Mostafa Madbouly attended the signing ceremony of the financial closure agreements between the Emirati AMEA Power company.
There are also a number of international financing institutions valued at a US$1.1 billion, marking the start of the implementation of two projects to produce electricity from renewable energy. These will be implemented in the Jabal al-Zayt area in the Red Sea and Kom Ombo in Aswan Governorate, with a production capacity of 1,000 megawatts. The signing ceremony was attended by Mohamed Shaker, Minister of Electricity and Renewable Energy; Rania Al Mashat, Minister of International Cooperation; Maryam Al Kaabi, UAE ambassador to Egypt; and officials of AMEA Power. The agreements were signed by representatives of the International Finance Corporation (IFC), a member of the World Bank Group; Michel Scheppens, representing the FMO (Dutch Entrepreneurial Development Bank); Ken Kato, representing the Japan International Cooperation Agency (JICA); and Kento Kitamura, representing Dubai Office of Japan Bank for International Cooperation (JBIC); and representatives of several banks. On the sidelines of the signing, Shaker 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. With strong hopes to enhance the Egyptian market’s dependence on renewable energy sources. Shaker added that international companies working in the field of renewable energy have great confidence in Egypt as a leading country in the Middle East in the field of renewable energy production. Egypt possesses huge potentials from renewable energy sources, such as wind and solar energy, which qualifies it to attract many different industries. The Ministry of Electricity and Renewable Energy succeeded in implementing the state’s plan in attracting many foreign and local investments in renewable energy projects and green hydrogen. This will enevitably position Egypt as a regional hub for the production of green hydrogen and its derivatives in the region and exporting it. It will aid in taking advantage of the distinguished geographical location and strong infrastructure of equipped Egyptian ports, he added. |
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