Arab Finance: Amea Power has announced the success of the successful commercial operation of the new wind power station located in Ras Gharib area in the Red Sea Governorate; Where this station, which has a capacity of 500 megawatts, is the largest of its kind in the African continent to this day, which enhances Egypt's leading position in the shift towards renewable energy at the continent level.
This achievement is a prominent station that follows the launch of the company's solar energy station in Aswan with a similar ability, during the month of November 2024, and thus, the total clean energy added by Emia Power to the Egyptian electrical network within six months to 1 gigawatts, in an achievement that reflects the company's speed of clean and reliable energy projects.
The new wind station bears the name Amont, which is a strategic partnership in which Emia Power has a 60%stake, while Sumitomo Corporation has the remaining 40%, and the station is expected to generate about 2500 gigawatts/hour of clean electricity annually, which is enough to cover the needs of more than 500 thousand housing units, in addition to Reducing carbon dioxide emissions by about 1.4 million tons annually.
It is worth noting that the wind farm has been funded by an alliance that included prestigious international financial institutions, including Japan International Cooperation Bank (JBIC), the International Finance Corporation (IFC), Sumitomo Mitsoy Banking Bank, Sumitomo Mitsoy, and Standard Charterd Bank.
The commercial segment of funding has received insurance coverage from Nippon Export and Investment Security Company (NEXI), while the Commercial International Bank (CIB) in Egypt provided additional support for working capital.
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