AMEA Power, one of the fastest growing renewable energy companies based in the Middle East, announced today it has signed a concession agreement and 25-year Power Purchase Agreement (PPA) with the Government of Ivory Coast for a 50MW solar PV project in the country.
The signing ceremony took place on the sidelines of Abu Dhabi Sustainability Week in the presence of H.E. Tiemoko Meyliet Koné, Vice President of Ivory Coast. The concession agreement was signed by H.E. Mamadou Sangafowa-Coulibaly, Minister of Mines, Petroleum and Energy of the Ivory Coast and Hussain Al Nowais, Chairman of AMEA Power.
The project will be the first solar Independent Power Project (IPP) in Ivory Coast and will be located at the city of Bondoukou in the north-eastern region of Gontougo, located 420 km northeast of Abidjan. At a total investment of around US$60 million, the solar project is being fully developed by AMEA Power under a Build-Own-Operate and Transfer (BOOT) model and will generate more than 85GWh of clean energy per year, enough power for around 350,000 people. The offtaker for the project will be Compagnie Ivoirienne d’Electricité, which is responsible for the electrical network throughout the country.
As part of its strategic plan, the Government of Ivory Coast aims to raise the share of renewable energy in the country’s electricity generation mix to 42% by 2030.
Hussain Al Nowais, Chairman of AMEA Power, said “AMEA Power is proud to be supporting Ivory Coast meet its clean energy ambitions, which will deliver investment, job creation and sustainable development. The country is undergoing an economic and social transition, which will be driven by the development of clean energy and is reflective of the broader continent.
“AMEA Power has a proven track record of delivering projects in West Africa. The region has a great amount 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.”
In November 2022, AMEA Power announced that it will be creating the largest solar plant in West Africa by extending the ‘Mohammed Bin Zayed Solar Power Plant’ in Togo from 50MW to 70MW, which will be supported by battery storage to extend the availability of clean energy at night. The Company is also finalising the construction of a solar project in Burkina Faso and developing a solar project in Mali.
AMEA Power is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long-term commitment to the global energy transition. The Company has clean energy pipeline of over 6GW across 20 countries.