- Amea Power signs a power purchase agreement (PPA) with GreenCo Power Services.
- The agreement covers the construction of an 85 MWp solar photovoltaic plant.
Amea Power is aiding in the acceleration of South Africa’s energy transition. A new solar power plant will be constructed in the North West Province by an independent power producer (IPP) with headquarters in Dubai, United Arab Emirates (UAE). A power purchase agreement (PPA) that was just struck between IPP and GreenCo Power Services, a division of energy trader Africa GreenCo Group, now covers the project.
According to the contract, Amea Power will give GreenCo a 25-year supply of the electricity it produces. Prior to the third quarter of 2023, when building is scheduled to begin, the project is anticipated to have obtained funding from Standard Bank of South Africa. The solar PV facility is planned to start producing its first MW in early 2025 after being connected to the South African electrical grid. GreenCo, which will acquire this electricity, functions as an intermediary supplier and service provider in South Africa.
In particular, the business, run by Ana Hajduka Shields, purchases power from providers of renewable energy and sells it to utilities, commercial and industrial (C&I) clients, and collaborators in the Southern African Power Pool (SAPP). The plant will be able to generate 220 GWh of electricity annually, according to Amea Power. South Africa, which is experiencing an energy crisis in part because of the age of its coal-fired power facilities, could benefit greatly from this.
Under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), which was established by the central government to entice investment from IPPs, the company has already begun investing in South Africa. By 2030, Pretoria plans to double the proportion of renewable energy in its electrical mix, from 11% to 41%. According to a report by the International Institute for Sustainable Development (IISD), this equation is challenging to answer but realistically calls for an expenditure of 31 billion dollars between now and 2030.