INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

AMEA Power wins bid

The UAE ranks among the top world leaders in solar energy use.
  • The Doornhoek PV Project will sell electricity to the state utility, Eskom, under a 20-year Power Purchase Agreement.
  • AMEA Power is the majority shareholder in the $120 million project and has partnered with a consortium wholly owned by African women.

Dubai, UAE—Renewable energy company AMEA Power has been awarded a 120 mega-watt (MW) solar photovoltaic (PV) project in South Africa.

The Doornhoek PV Project will sell electricity to the state utility, Eskom, under a 20-year Power Purchase Agreement.

AMEA Power is the majority shareholder in the $120 million project and has partnered with a consortium wholly owned by African women, formed by Ziyanda Energy and Dzimuzwo Consulting.

The solar project, which is located near the town of Klerksdorp in the North West Province, will generate more than 325GWh of clean energy per year and power around 25,000 households. In total, the project is expected to offset 290,000 tons of carbon dioxide emissions annually.

The construction of the Doornhoek PV Project will commence by mid-2023, and will make use of more than 45 percent of locally sourced materials and resources.

Hussain Al Nowais, Chairman of AMEA Power, said, “Over the next decade, the country will undergo a massive transition in its approach to electricity generation as the network decommissions large amounts of coal generation and adopts cleaner solutions like wind and solar. AMEA Power aims to bring many more clean energy projects onto the grid to help address the energy shortfall, and provide clean, affordable energy to the country in the long term.”

AMEA Power has a secured a number of sites suitable for the development of a further 1GW of renewable energy projects in South Africa, which the Company will bid into future REIPPP Programmes, and provision for private sector consumers.