AMEA Power, a renewable energy company from the Middle East, has secured financing for its 120 MW solar photovoltaic project in Doornhoek, South Africa. Valued at US$120 million, this project is the company’s first operational installation in the country, highlighting its dedication to South Africa’s energy sector.
The project received US$100 million in debt financing from Standard Bank South Africa, while the Industrial Development Corporation provided US$8 million in equity to local partners Ziyanda Energy and Dzimuzwo Energy. Both companies are entirely owned by African women, reinforcing the local impact of the project.
The consortium, comprising AMEA Power and its local partners, won the project in the sixth bidding round of the Renewable Energy Independent Power Producer Procurement Program (REIPPPP). Hussain Al Nowais, Chairman of AMAE Power, expressed his satisfaction at this achievement, underscoring the importance of supporting South Africa’s energy transition.
Once commissioned, the Doornhoek project will generate 325 GWh of energy per year, enough to power around 97,000 homes. George Kotsovos, Head of Energy and Infrastructure Finance at Standard Bank Group, expressed his pride at being associated with this project, which will have a significant impact on South Africa’s energy needs.
David Jarvis, acting CEO of the Industrial Development Corporation, stressed the importance of equitable participation and operational involvement of new black women-owned businesses in the energy sector, underscoring IDC’s commitment to replicating this model in future energy projects.
Scheduled to begin commercial operations by December 2025, the Doornhoek project near Klerksdorp in the North West Province showcases AMEA Power’s capability to significantly contribute to South Africa’s energy goals.
