Early Warning System

Regions

Middle East and North Africa

Geographic location where the impacts of the investment may be experienced.

Countries

Egypt

Geographic location where the impacts of the investment may be experienced.

Specific Location

Ras Ghareb

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

US International Development Finance Corporation (DFC)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Borrower

AMEA Power Ltd.

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

Not Disclosed

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Primary Source

Original disclosure @ DFC website

Updated in EWS Oct 7, 2023

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the DFC, the proposed Project involves political risk insurance for the development, construction, and operation of a 500MW wind power facility in the Red Sea Governate of Egypt. The Project will sell power under the terms of a 25-year Power Purchase Agreement with the Egyptian Electricity Transmission Company (EETC). The Project developer is Amunet Wind Power Company, a special purpose vehicle established and majority owned by AMEA Power Ltd.

The Project comprises 77 wind turbines each with a capacity of 6.5 MW and a tip height of 180 meters. The Project’s supporting infrastructure will include an onsite substation, underground cables to connect the turbines to the substation, a fiber optic communications network, internal access roads, and buildings for daily operations, including offices and a warehouse. Power will be evacuated via a 2 km Overhead Transmission Line that will be constructed and operated by the EETC.

The 69.4 km2 Project site is located on land owned by the Government of Egypt in an area that has been allocated to the New and Renewable Energy Authority (NREA) for the development of wind farms. The Project area is desert landscape with no significant vegetation. The site is located approximately 9 kilometers northwest of Ras Ghareb, which is the nearest residential area. The Project site and adjacent areas are uninhabited and vacant with no evidence of grazing or agriculture activities. The main land uses in the area are related to petroleum exploration and development.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

US International Development Finance Corporation (DFC)

Investment information not available at the time of disclosure.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated on the company's website, AMEA Power is one of the fastest growing renewable energy companies in the region with a clean energy pipeline of over 6GW across 20 countries.
Founded in 2016, AMEA Power has assembled a leading team of global industry experts to deliver projects across Africa, the Middle East and other emerging markets.
AMEA Power already has more than 1,230MW of clean energy projects either in operation or under construction in Burkina Faso, Egypt, Jordan, Morocco and Togo. To support its growth, AMEA Power is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	AMEA Power Limited	Client	Energy
-	-	-	-	Egyptian Electricity Transmission Company	Buyer	Energy

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

The Project ESIA and Non-Technical Summary will be available for review at:

Ras Ghareb City Council Office, Al-Mina Street, 11432 Ras Ghareb – Red Sea

Client - AMEA Power Ltd.:

Address: Marina Plaza Office Tower, Dubai, United Arab Emirates
Phone: +971 4 222 2499
Email: info@ameapower.com
Website: https://www.ameapower.com/

ACCESS TO INFORMATION

Unlike many other development finance institutions, DFC does not currently have an access to information policy.

Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia

ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)

The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.

You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability