Dubai, United Arab Emirates; August 2, 2022: AMEA Power, a leading renewable energy company, along with its partner GPM Holding, has commenced the construction of its first solar project in Morocco, a 34MW photovoltaic power plant. The groundbreaking ceremony took place on July 26th 2022 in Hjar Nhal, south of Tangier.
The solar project has been developed by GreenPower Morocco 1, a project company owned by AMEA Power and GPM Holding, and is located in Tangier, a city in northwestern Morocco. The power plant has a planned production of nearly 66,149 MWh of power per year. This will supply clean and affordable power to more than 19,200 households, saving more than 39,888 tonnes of CO2 emissions annually.
A 25 year Power Purchase Agreement (PPA) has been signed with Amendis, a subsidiary of Veolia Morocco, in charge of distribution of drinking water and electricity.
The US$ 37m solar power project is financed by Attijariwafa bank, a major local commercial bank.
The project has been developed under the 13-09 framework relating to renewable energy for corporate PPAs, where a PPA has been signed with a well-established Moroccan commercial & industrial (C&I) player. This framework encourages the development of renewable sources in order to promote energy security and access. In April 2022, AMEA Power announced that it had been awarded two solar projects with a total capacity of 72MW, following a successful international bidding process in Morocco, a program that was also established under the 13-09 framework.
Hussain Al Nowais, Chairman of AMEA Power, commented: “We are delighted to have successfully co-developed this project with our partner GPM Holding. This is AMEA Power’s first project to reach financial close in Morocco. We have a strong portfolio of solar and wind projects at an advanced stage of development in this beautiful country, a close friend of the United Arab Emirates. Having succeeded in positioning itself as a world leader in renewable energy, Morocco remains a strategic market for AMEA Power. We will continue to deploy all means, as an international renewable energy developer, to support the country in achieving its target to increase its renewables share to 52% by 2030. ”
About AMEA Power
Headquartered in Dubai, AMEA Power is a developer, owner and operator of renewable energy projects. As one of the fastest growing renewable energy companies in the region, AMEA Power has assembled a world class team of industry experts to deliver projects across Africa, the Middle East and other emerging markets. The company is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition.