Dubai’s AMEA Power advances wind, solar projects in Egypt
The project is one of many that Emirati entities have announced this year. Egypt could benefit from more renewable energy, but already has some solar and wind plants in the country.
Another Emirati renewable energy project was announced in Egypt today.
The Dubai-based AMEA Power has finalized its recently announced solar and wind projects in Egypt. Each project will deliver 500 megawatts of power and the total investment amounts to $1.1 billion, AMEA Power said in a press release.
The wind farm will be located in the Red Sea governorate, while the solar plant will be located in the Aswan governorate, which includes the eponymous dam. The original deal was made with the Egyptian government earlier this month. A variety of entities are financing the project, including the International Finance Corporation and several Japanese banks.
Why it matters: Many renewable energy projects are coming out of the United Arab Emirates these days as the Gulf state seeks to diversify its economy. About a third of the UAE economy is based on oil and gas. The following is a list of notable wind and solar energy projects from Emirati entities this year:
