{"id":78383,"date":"2023-07-11T01:00:03","date_gmt":"2023-07-11T01:00:03","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/11\/uaes-amea-power-secures-usd-75-mn-in-funding-from-japans-softbank\/"},"modified":"2023-07-11T01:00:03","modified_gmt":"2023-07-11T01:00:03","slug":"uaes-amea-power-secures-usd-75-mn-in-funding-from-japans-softbank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/11\/uaes-amea-power-secures-usd-75-mn-in-funding-from-japans-softbank\/","title":{"rendered":"UAE\u2019s Amea Power secures USD 75 mn in funding from Japan\u2019s SoftBank"},"content":{"rendered":"

<\/a> Amea Power gets fresh funding:<\/strong> UAE renewable energy developer Amea Power has signed a USD 75 mn equity funding round from Japan\u2019s SoftBank Group (SBG), according to a statement<\/a>. The investment represents the Emirati firm\u2019s first external equity funding after years of being privately funded by its founding shareholders, the Al Nowais family.<\/p>\n

What we know:<\/strong> The all-equity capital raise from SBG will allow both firms to \u201cexplore a mutual partnership, which will lead to maximizing the value creation of Amea Power mainly in the Asia Pacific, Middle East and Africa (AMEA) region,\u201d the statement read. \u201cThe funds raised will enable us to accelerate our strategic ambitions, materialize further projects in the power, water and green hydrogen sectors, and to continue to further expand our presence in target markets,\u201d Amea Power Chairman Hussain Al Nowais said.<\/p>\n

More investors incoming?<\/strong> Several unnamed international institutional strategic corporate financial investors are considering potential investments in Amea Power, the statement said, without providing further details.<\/p>\n

Amea has an ambitious pipeline:<\/strong> Amea Power currently has a generation capacity \u2014 operational and under construction \u2014 of around 1.45 GW, with a clean energy pipeline of nearly 6 GW across 15 countries, according to the statement. It is considering expansions into more regions in the Middle East including Kazakhstan, Uzbekistan, and Azerbaijan, as well as Southeast Asia, it added.<\/p>\n

And several projects are well on their way: <\/strong>Amunet \u2014 an Egyptian special purpose vehicle that is 60% owned by Amea Power and 40% owned by Japan\u2019s Sumitomo \u2014 is building<\/a> the USD 709 mn Ras Ghareb wind farm in Egypt. Construction of the project began in March and is expected to be completed by 2025. Amea is also among companies and consortiums bidding for<\/a> several desalination plants in Egypt as part of the first phase of the government\u2019s desalination program. The company was awarded<\/a> a concession and power purchase agreement for Tunisia\u2019s 100 MW Kairouan solar plant<\/a> in March 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amea Power gets fresh funding: UAE renewable energy developer Amea Power has signed a USD 75 mn equity funding round from Japan\u2019s SoftBank Group (SBG), according to a statement. The investment represents the Emirati firm\u2019s first external equity funding after years of being privately funded by its founding shareholders, the Al Nowais family. What we […]<\/p>\n","protected":false},"author":1,"featured_media":78384,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[244,11,164,151,88,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-amea-power","tag-enterpriseclimate","tag-green-finance","tag-investment-watch","tag-renewables","tag-uae","wpautop","entry"],"acf":{"mongo_id":"495ed7aa-bf23-4aa0-adb7-9fd9a0dfc552","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/agreement-1600px1.jpg","photo_position":"above","related_issue":[78371],"teaser":"","voice_url":""},"yoast_head":"\nUAE\u2019s Amea Power secures USD 75 mn in funding from Japan\u2019s SoftBank - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/11\/uaes-amea-power-secures-usd-75-mn-in-funding-from-japans-softbank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s Amea Power secures USD 75 mn in funding from Japan\u2019s SoftBank\" \/>\n<meta property=\"og:description\" content=\"Amea Power gets fresh funding: UAE renewable energy developer Amea Power has signed a USD 75 mn equity funding round from Japan\u2019s SoftBank Group (SBG), according to a statement. 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