{"id":80057,"date":"2023-10-16T01:00:37","date_gmt":"2023-10-16T01:00:37","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/16\/uaes-amea-power-needs-usd-400-mn-in-funding-to-fuel-expansion-plans\/"},"modified":"2023-10-16T01:00:37","modified_gmt":"2023-10-16T01:00:37","slug":"uaes-amea-power-needs-usd-400-mn-in-funding-to-fuel-expansion-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/16\/uaes-amea-power-needs-usd-400-mn-in-funding-to-fuel-expansion-plans\/","title":{"rendered":"UAE\u2019s Amea Power needs USD 400 mn in funding to fuel expansion plans"},"content":{"rendered":"

<\/a><\/strong>UAE\u2019s Amea Power wants to drum up funds for expansion overseas: <\/strong>UAE renewables company Amea Power plans to raise USD 400 mn in a new equity funding round to support its expansion plans into new markets, the company\u2019s chair Hussein Al Nuwais told Asharq Business<\/a> in an interview last week. Amea \u2014 which has been making strides<\/a> in both the regional and African clean energy sector lately \u2014 plans to use the proceeds to expand into Central Asia, with plans to announce a 1 GW solar or wind energy project in the region \u201cin the next three months,\u201d Al Nuwais said, adding that the company is also looking to expand its foothold in other MENA markets beyond Egypt<\/a>, Morocco<\/a>, and Tunisia<\/a>.<\/p>\n

More details: <\/strong>Amea Power \u2014 which closed a USD 75 mn equity funding round<\/a> that saw Japan\u2019s Softbank snap up 40% of its shares in a company last July \u2014 says the new offering will still see it retain a majority of its book value. The UK\u2019s Citibank will serve as the company\u2019s financial counsel for the planned transaction, serving as the advisor in attracting investors to the company\u2019s upcoming stake offering.<\/p>\n

Amea has plans for Egypt and Morocco:<\/strong> Beyond the company\u2019s planned 1 GW green hydrogen plant in Egypt \u2014 for which it recently concluded its feasibility study \u2014 Amea says it will announce an even larger utility-scale project in the country \u201csoon,\u201d and is looking to develop a similar green hydrogen project in Morocco, according to Al Nuwais.<\/p>\n

Acquisition, bond issuances, and IPO plans in the offing:<\/strong> To quickly expand its operations into targeted foreign markets, the company says it is considering the acquisition of two companies it did not name, one based in Turkey and the other in MENA, and Al Nowais noted that Amea may publicly list its shares in the next three to four years. Beyond acquisition agreements and IPO ambitions, the company also says it is in talks with the African Development Bank, the Abu Dhabi Fund for Development, and other international lenders to explore the possibility of financing its expansion plans through green bond issuances, he noted.<\/p>\n","protected":false},"excerpt":{"rendered":"

UAE\u2019s Amea Power wants to drum up funds for expansion overseas: UAE renewables company Amea Power plans to raise USD 400 mn in a new equity funding round to support its expansion plans into new markets, the company\u2019s chair Hussein Al Nuwais told Asharq Business in an interview last week. Amea \u2014 which has been […]<\/p>\n","protected":false},"author":1,"featured_media":80058,"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":[243],"tags":[244,11,164,88],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-finance","tag-amea-power","tag-enterpriseclimate","tag-green-finance","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"9948760c-fccd-4d9b-97e3-15537ccbfca9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/9\/1048.jpg","photo_position":"above","related_issue":[80047],"teaser":"","voice_url":""},"yoast_head":"\nUAE\u2019s Amea Power needs USD 400 mn in funding to fuel expansion plans - 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\/10\/16\/uaes-amea-power-needs-usd-400-mn-in-funding-to-fuel-expansion-plans\/\" \/>\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 needs USD 400 mn in funding to fuel expansion plans\" \/>\n<meta property=\"og:description\" content=\"UAE\u2019s Amea Power wants to drum up funds for expansion overseas: UAE renewables company Amea Power plans to raise USD 400 mn in a new equity funding round to support its expansion plans into new markets, the company\u2019s chair Hussein Al Nuwais told Asharq Business in an interview last week. 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