AMEA Power bags $75m funding from SoftBank

The company currently has clean energy generating capacity of 1.45GW.

Dubai-based renewable energy developer AMEA Power has secured a $75m equity funding round from Japanese investment holding firm Softbank Group.

In a statement, AMEA Power said the funding, its first external funding following the AlNowais family, will enable the parties to look into potential mutual partnership and “will lead to maximizing the value creation of AMEA Power mainly in the (Asia Pacific, Middle East and Africa) region.”

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“The funds raised will enable us to accelerate our strategic ambitions, materialise further projects in the power, water and green hydrogen sectors, and to continue to further expand our presence in target markets. AMEA Power is rapidly expanding and perfectly positioned to lead and accelerate the global race to net zero,” said AMEA Power Chairman Hussain Al Nowais.

“Building on its success in Africa, AMEA Power is now looking to expand into more territories in the Middle East, the CIS countries such as Kazakhstan, Uzbekistan and Azerbaijan and Southeast Asia,” he added.

AMEA Power has a generating capacity of 1.45 gigawatts (GW), both in operation and under construction, and has a pipeline of almost 6GW in 15 countries.