Renewable energy developer AMEA Power has signed a $75 million equity funding round from SoftBank Group Corp, a Japanese investment holding company.
This represents AMEA Power’s first external equity funding following years of being privately funded by its founding shareholders, AlNowais Investments LLC.
The funding will allow AMEA Power and SBG to explore a mutual partnership which will lead to maximising the value creation of AMEA Power mainly in the AMEA region. The capital raise from Softbank is an all-equity round. Several international institutional strategic corporate and financial investors are also evaluating a potential investment.
AMEA Power is scaling up its investments in wind, solar, energy storage, green hydrogen, and water desalination. It has generating capacity in operation and under construction of approximately 1.45 GW, and the company has a clean energy pipeline of nearly 6GW across 15 countries.
Hussain Al Nowais, Chairman of AMEA Power, said: “We are proud to welcome SBG as a new investor in AMEA Power and to reach this significant milestone with a cornerstone investor in the global energy transition. 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.”
