The International Finance Corporation said that Egypt will have more than one gigawatt of wind and solar power, which will generate the cheapest green power in Africa because it has helped complete the $1.1 billion plant financing plan.

AMEA Power, a developer headquartered in the United Arab Emirates, will build and operate 560MW Abydos photovoltaic facilities and 505MW Amunet Wind project. The latter will cooperate with Sumitomo Corporation of Japan, which will own 40% of the shares of the Wind farm.

AMEA Power told Recharge that it will use China's Energy Energy as its turbine supplier for wind power projects, while another Chinese company, Jingao Solar, will be equipped with photovoltaic power plants.

The International Finance Corporation said that the 4000GWh power generated by the two plants would bring green power to one million Egyptians. The price of electricity from solar parks and wind farms will be 2 cents/kWh and 3 cents/kWh respectively, which is the lowest rate in Africa and one of the cheapest rates in the world. IFC added that it has joined lenders from the United Arab Emirates, Japan and the Netherlands and private sector banks to support these projects.

The construction of both will start this month. It is estimated that it will take 18 months for the solar power plant and two and a half years for the wind farm. These plants have signed power purchase agreements with the Egyptian Power Transmission Company.

Cheick Oumar Sylla, regional director of North Africa and the Horn of Africa of the International Finance Corporation, said that these projects highlighted the important role of the private sector in helping to provide clean and affordable electricity, especially under the challenges of climate change and increasing environmental pressures. Keywords: overseas news, engineering news

AMEA Power, headquartered in Dubai, has announced plans to build 1GW green hydrogen energy facilities in Egypt, and has 6GW of pipelines in 15 countries.Editor/Xing Wentao