AMEA Power, a leading renewable energy developer in the Middle East, has announced the financial closing of the 120 MW Doornhoek solar PV project in South Africa.

This project, which costs US$120 million, is the company’s first operational project in South Africa and aims to generate 325 gigawatt hours of clean energy annually in order to provide energy to about 97 thousand homes.

Project financing was secured through a combination of loans and equity; Standard Bank South Africa provided a US$100 million loan to AMEA Power, while the Industrial Development Corporation contributed US$8 million in equity financing to local partners, Ziyanda Energy and Dzimuzwo Energy, two companies wholly owned by African women.

The Doornhoek solar PV project is expected to make a significant contribution to South Africa’s goal of having 22% of the energy mix come from renewable energy by 2030.

We are pleased to achieve the financial close of the Doornhoek Solar PV Project. Hussain Al Nowais, Chairman of the Board of Directors of AMEA Power, said that South Africa is a major market for renewable energy, and we are committed to supporting the country’s journey towards a sustainable future through our solar PV projects.

In addition to the Doornhoek project, AMEA Power is also implementing a 120 MW solar PV project in Tunisia, the Kairouan Solar PV Project, which began construction last month.

The Doornhoek solar photovoltaic project is expected to contribute to reducing carbon emissions by 330 thousand tons annually, while the Kairouan solar photovoltaic project will contribute to reducing them by 117 thousand tons during its operation period. AMEA Power’s investments in renewable energy projects in South Africa and Tunisia demonstrate its commitment to supporting clean energy growth in the region, enhancing energy security, and achieving sustainable development.