Japan’s SoftBank in US$75 Million Funding Round With Renewable Energy Firm

Headquartered in Dubai, AMEA Power a developer, owner, and operator of renewable energy projects has received a US$75 million equity funding round from Masayoshi Son’s SoftBank Group (SBG).

The investment represents AMEA Power’s first external equity funding following years of being privately funded by its founding shareholders, the AlNowais family.

Founded in 2016, AMEA Power has assembled a team of industry experts to deliver renewable energy projects across Africa, the Middle East, and other emerging markets.

The company is quickly scaling up its investments in wind, solar, energy storage, green hydrogen, and water desalination demonstrating its long-term commitment to the global energy transition.

AMEA Power 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.

In a statement, AMEA Power said SBG’s funding will allow AMEA Power and SBG to expand into more territories in the Middle East, the CIS countries such as Kazakhstan, Uzbekistan, Azerbaijan, and Southeast Asia.

As part of its commitment to economic and social development, AMEA Power works closely with local stakeholders to establish programs that advance local communities in proximity to our renewable energy projects.

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 continue to further expand our presence in target markets.”