AMEA Power has secured financial close for the 120 MW Doornhoek solar project in South Africa

AMEA Power, a rapidly growing renewable energy company based in the Middle East, today announced that it has reached financial close for its 120 MW Doornhoek photovoltaic (PV) project in South Africa. This $120 million project will be the company’s first operational asset in the country once operational.

As majority shareholder, AMEA Power has partnered with Ziyanda Energy and Dzimuzwo Energy, both companies wholly owned by African women. The project was awarded to the consortium under REIPPPP tender window 6. Standard Bank South Africa provided $100 million (approximately ZAR 1,800 million) in equity financing to the local partners, while the Industrial Development Corporation contributed $8 million (approximately ZAR 150 million) in equity financing.

Hussain Al Nowais, CEO of AMEA Power, expressed his delight, stating: “We are delighted with the financial close of the 120 MW Doornhoek solar project in South Africa. The country has enormous renewable energy opportunities and we are proud that this project will support South Africa in its renewable energy transition. We are also grateful for the support from our lenders and the South African government in making this project a reality.”

George Kotsowos, director of energy and infrastructure finance at Standard Bank Group, highlighted the impact of the project, saying: “We are extremely proud to partner with AMEA Power, Ziyanda Energy and Dzimuzwo Energy on a project that will generate over 325 GWh of clean energy annually and power approximately 97,000 households in a sustainable manner.

David Jarvis, interim CEO of the Industrial Development Corporation, highlighted the importance of the project, stating: “IDC is pleased to partner with AMEA on its inaugural utility-scale solar project in South Africa. We are particularly excited to facilitate the equity participation and operational involvement of two new entrants in the energy sector that are owned by Black women.”

On April 30, 2024, a power purchase agreement was signed with His Excellency Gwede Mantashe, Minister of Mineral Resources and Energy of the Republic of South Africa, Mr. Segomoco M. Scheppers, Chief Transmission Officer of the Eskom Group, and Hussain Al Nowais, President of AMEA Power. The signing was attended by His Excellency Mahash Saeed Alhameli, Ambassador of the United Arab Emirates to South Africa, Sibongile Mduli, CEO of Ziyanda Energy and Lusani Madali, Managing Director of Dzimuzwo Energy.

Located near Klerksdorp in the North West Province, the 120 MW Doornhoek Solar PV project is expected to generate 325 GWh of clean energy per year, powering approximately 97,000 households and offsetting 330,000 tonnes of carbon dioxide emissions each year. Commercial operations are expected to begin in December 2025.

In accordance with AMEA Power’s “Community Investment and Development Programme”, the company will implement initiatives aimed at supporting socio-economic growth and local community development, consistent with the United Nations Sustainable Development Goals.

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