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Dubai-based renewable energy developer AMEA Power has signed a 25-year power purchase agreement (PPA) with the government of Djibouti for a 25 megawatt (MW) solar PV project coupled with battery storage in the Grand Bara, south of Djibouti city.
The solar project, the first solar independent power project (IPP) in Djibouti, is being fully developed under a Build-Own-Operate and Transfer (BOOT) model and will generate 55GWh of clean energy per year, the company said in a statement.
The Sovereign Fund of Djibouti will join the project before the financial close as a minority shareholder. The off-taker will be state-owned Electricité de Djibouti.
As part of its strategic plan, the Djibouti government aims to reduce CO2 emissions by around 40 percent by 2030.
AMEA Power has a clean energy pipeline of over six gigawatts (GW) across 20 countries.
(Writing by P Deol; Editing by Anoop Menon)
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