AMEA Power has clinched a landmark 20-year power purchase agreement (PPA) for a 120MW solar scheme in South Africa, marking a significant stride in the country's renewable energy landscape.
Dubbed the Doornhoek Solar Photovoltaic Project, the initiative was awarded to a consortium comprising AMEA Power and local partners under Bid Window 6 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).
The PPA, inked with South African utility company Eskom, solidifies the commitment to renewable energy transition in the region. The project is slated to be constructed near the town of Klerksdorp in the North West province.
AMEA Power stands as the majority shareholder in the $120 million venture, partnering with Ziyanda Energy and Dzimuzwo Consulting, both wholly owned by African women.
Funding for the project will be facilitated through debt financing from Standard Bank South Africa, while equity funding for the local partners will be provided by the Industrial Development Corporation.
The signing ceremony for the PPA witnessed the participation of key stakeholders, including South Africa's Minister of Mineral Resources and Energy Gwede Mantashe, Eskom Group Executive for Transmission Segomoco Scheppers, and AMEA Power Chairman Hussain Al Nowais.
Al Nowais highlighted the project's strategic significance in advancing South Africa's long-term goals of reducing carbon emissions and enhancing energy stability. He emphasized, “This project exemplifies AMEA Power's commitment to driving positive environmental impact and fostering socio-economic development.”
With the establishment of an office in Johannesburg last year, serving as the company's regional hub covering southern Africa, AMEA Power reaffirms its dedication to spearheading sustainable energy solutions across the continent.
