AMEA Power expands its presence in South Africa with 85MW Power Purchase Agreement with GreenCo

Press Release - 25th April 2023

Africa GreenCo Group, through its South Africa-based company, GreenCo Power Services (Ptty) Limited (together, GreenCo), is delighted to announce the execution of a power purchase agreement (PPA) with AMEA Power, a Dubai-based developer, owner and operator of renewable energy projects with a focus across Africa, the Middle East and other emerging markets. This project is set to be financed by Standard Bank of South Africa, a key financial institution in Sub-Saharan Africa that is actively involved in financing green energy transition projects.

The PPA signing was witnessed by HE Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, and HE Abrahim Patel, Minister of Trade and Industry for the Republic of South Africa. GreenCo is further partnering some key stakeholders to develop a fast-tracked model to stimulate the onboarding of renewable energy generation in South Africa; a significant outcome that will help mitigate the current electricity crisis affecting businesses, households, and the economy as a whole.