AMEA Power, a Middle Eastern renewable energy firm, has finalized a solar PV project agreement with the government of Ivory Coast.
The project, which will be located in the city of Bondoukou in northern Ivory Coast, will be the country’s first solar-powered independent power project. The project, which would require a US$60 million investment, will be fully constructed by AMEA Power and will create more than 85 GWh of clean energy each year.
The offtaker for the project will be Compagnie Ivoirienne d’Electricité, a company responsible for the electrical network throughout Ivory Coast.
“The region has a great deal of untapped potential for renewable energy and green hydrogen. As AMEA Power expands its investments across Africa, we will work in partnership with governments, businesses, and local communities to develop projects,” said Hussain Al Nowais, chairman of AMEA Power.
The agreement will be part of the Ivory Coast government’s plan to raise the share of renewable energy in the country’s electricity generation mix to 42% by 2030.
AMEA Power has been investing in Africa in recent months. Last November, it closed financing on 1 GW of renewable energy projects to be deployed in Egypt, constituting a 500 MW solar PV plant and a 500 MW wind farm. With these projects, AMEA Power will double its renewable energy capacity in Egypt to 2 GW.
In addition, the company is nearing completion on a solar project in Burkina Faso and building a solar project in Mali.
