AMEA Power, along with its partner GPM Holding, has launched the construction of a 34MW solar power plant in Morocco
Dubai, UAE August 2nd , 2022 – AMEA Power, a leading renewable energy company, along with its partner GPM Holding, has launched the construction of its first solar project in Morocco, a 34MW photovoltaic power plant. The groundbreaking ceremony took place on July 26th 2022 in Hjar Nhal, south of Tangier.
The solar project has been developed by GreenPower Morocco 1, a project company owned by AMEA Power and GPM Holding, and is located in Tangier, a city in northwestern Morocco. The power plant has a planned production of nearly 66,149 MWh of power per year. This will supply clean and affordable power to more than 19,200 households, saving more than 39,888 tonnes of CO2 emissions annually.
A 25 year Power Purchase Agreement (PPA) has been signed with Amendis, a subsidiary of Veolia Morocco, in charge of distribution of drinking water and electricity.
The US$ 37m solar power project is financed by Attijariwafa bank, a major local commercial bank.
The project has been developed under the 13-09 framework relating to renewable energy for corporate PPAs, where a PPA has been signed with a well-established Moroccan commercial & industrial (C&I) player. This framework encourages the development of renewable sources in order to promote energy security and access. In April 2022, AMEA Power announced that it had been awarded two solar projects with a total capacity of 72MW, following a successful international bidding process in Morocco, a program that was also established under the 13-09 framework.
Hussain Al Nowais, Chairman of AMEA Power, commented: “We are delighted to have successfully co-developed this project with our partner GPM Holding. This is AMEA Power’s first project to reach financial close in Morocco. We have a strong portfolio of solar and wind projects at an advanced stage of development in this beautiful country, a close friend of the United Arab Emirates. Having succeeded in positioning itself as a world leader in renewable energy, Morocco remains a strategic market for AMEA Power. We will continue to deploy all means, as an international renewable energy developer, to support the country in achieving its target to increase its renewables share to 52% by 2030.”
About AMEA Power
Headquartered in Dubai, AMEA Power acquires, develops, owns and operates clean power generation assets in Africa, the Middle East and Asia. The company has built a strong pipeline across technologies and at different stages of development in emerging markets. AMEA Power is led by a highly experienced international team with a proven track record in the power sector.
AMEA Power has renewable energy projects in operation and late stage developments in over 15 countries, including Jordan, Togo, Tunisia, Morocco, Burkina Faso, Ivory Coast, Chad, Mali, Kenya, Uganda and Ethiopia. In 2021, the company commissioned three renewable energy projects; a 50MW solar power plant in Togo, a 50MW wind project and a 50MW solar power plant in Jordan.
In addition, AMEA Power is awaiting financial close on 1,000MW of wind and solar projects in Egypt in this next few months. This will bring AMEA Power’s aggregated capacity to more than 2,000MW in the Middle East and Africa.
Since its inception, AMEA Power continues to be on track to become one of the fastest-growing renewable energy Independent Power Producers (IPPs), with additional projects set to achieve financial close imminently. For more information, please visit: www.ameapower.com
For further information, please contact: Barbro Ciakudia | Manager – Business Development and CSR | Email: Barbro.ciakudia@ameapower.com | Mob: +971 56 412 175
