Gide has advised AMEA Power, one of the fastest growing renewable energy companies based in the Middle East, on the signing a 25- year Power Purchase Agreement (PPA) with the Government of Djibouti for a 25MW solar PV project coupled with Battery Storage in the Grand Bara area.
The signing ceremony was held in Djibouti on August 27th, 2023. The project will be the first solar Independent Power Project (IPP) in Djibouti and will be located in Grand Bara, south of Djibouti City. The solar project is being fully developed by AMEA Power under a Build-Own-Operate and Transfer (BOOT) model and will generate 55 GWh of clean energy per year, enough to reach more than 66,500 people. The Sovereign Fund of Djibouti (FSD) will be joining the project before financial close as a minority shareholder. The offtaker for the project will be Electricité de Djibouti.
As part of its strategic plan, the Government of Djibouti aims to reduce CO2 emissions by around 40% by 2030.
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. The Company has clean energy pipeline of over 6GW across 20 countries.
Gide’s team comprised partner Victor Grandguillaume and associate Pauline Coulon at Paris office and counsel Frédéric Pia at Casablanca office.