Amea Power says it has secured financing for a 120 MW photo voltaic plant close to Klerksdorp, South Africa. Funding consists of $100 million in debt from Standard Bank South Africa and $8 million in fairness from Industrial Development Corp.

Image: Thomas Coker, Unsplash

Dubai-based Amea Power has reached monetary shut on a 120 MW photo voltaic challenge in South Africa. The Doornhoek PV array – to be constructed close to the city of Klerksdorp, North Western Province – is the developer’s first operational asset within the nation.

The developer secured $100 million in debt financing from Standard Bank South Africa. The Industrial Development Corp. additionally gives $8 million in fairness funding by Amea Power’s native companions within the challenge, Ziyanda Energy and Dzimuzwo Energy.

The photo voltaic plant is anticipated to start out business operation in December 2025. It is estimated that it’ll generate 325 GWh of fresh power, sufficient for an estimated 97,000 households. Amea Power has signed an influence buy settlement with the South African authorities.

Amea Power Chairman Hussain Al Nowais mentioned South Africa has big renewable power potential.

“We are proud that with this challenge, we are going to help South Africa in its renewable power transition,” he added. “We are additionally grateful for the help from our lenders and the South African authorities in making this challenge a actuality.”

Earlier this 12 months, Amea Power moved a 26.6 MW photo voltaic farm in Burkina Faso and began constructing a 120 MW photo voltaic plant in Tunisia.

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