Applications & Installations

Amea Power secures financing for 120 MW of solar in South Africa

Amea Power says it has obtained financing for a 120 MW solar plant near Klerksdorp, South Africa. The funds include $100 million in debt from Standard Bank South Africa and $8 million in equity from Industrial Development Corp.
Patrick Jowett
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Patrick Jowett
Image: Thomas Coker, Unsplash

Dubai-based Amea Power has reached financial close on a 120 MW solar project in South Africa. The Doornhoek PV array – to be built near the town of Klerksdorp, North Western Province – will be the developer’s first operational asset in the country.

The developer has secured $100 million of debt funding from Standard Bank South Africa. Industrial Development Corp. has also provided $8 million in equity funding to Amea Power’s local partners in the project, Ziyanda Energy and Dzimuzwo Energy.

The solar plant is expected to commence commercial operations by December 2025. It is projected to generate 325 GWh of clean energy, enough for an estimated 97,000 households. Amea Power has signed a power purchase agreement with the South African government.

Amea Power Chairman Hussain Al Nowais said South Africa has vast renewable energy potential.

“We are proud that with this project, we will support South Africa in its renewable energy transition,” he added. “We are also grateful for the support from our lenders and that of the South African government for turning this project into a reality.”

Earlier this year, Amea Power switched on a 26.6 MW solar farm in Burkina Faso and began building a 120 MW solar plant in Tunisia.

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