AMEA Power Secures $75 Million Equity Funding from SoftBank Group
Renewable energy developer AMEA Power has successfully concluded a $75 million equity funding round with SoftBank Group Corp, a prominent Japanese investment holding company. This marks a significant milestone for AMEA Power, as it represents the company’s first external equity funding following years of private funding from its founding shareholders, AlNowais Investments LLC.
The infusion of capital will enable AMEA Power and SoftBank Group (SBG) to explore a mutually beneficial partnership aimed at maximizing value creation, particularly in the AMEA (Asia, Middle East, and Africa) region. The funding from SoftBank Group comes in the form of an all-equity round. Additionally, various international institutional strategic corporate and financial investors are currently considering potential investments in AMEA Power.
As a renewable energy developer, AMEA Power is focused on expanding its investments in various sectors, including wind, solar, energy storage, green hydrogen, and water desalination. The company already has an operational and under-construction generating capacity of approximately 1.45 GW. Moreover, it boasts a robust clean energy pipeline of nearly 6 GW across 15 countries.
Hussain Al Nowais, Chairman of AMEA Power, expressed pride in welcoming SoftBank Group as a new investor and reaching this significant milestone alongside a cornerstone investor in the global energy transition. The funds raised through this funding round will accelerate AMEA Power’s strategic ambitions, allowing the company to materialize additional projects in the power, water, and green hydrogen sectors. It will also support the company’s expansion efforts in target markets. Al Nowais emphasized that AMEA Power is rapidly growing and well-positioned to lead and accelerate the global race toward achieving net-zero emissions.
SoftBank Group’s investment in AMEA Power underscores the increasing global focus on renewable energy and sustainable development. The partnership between the two companies reflects their shared commitment to driving the energy transition and combating climate change. By combining AMEA Power’s expertise in renewable energy development with SoftBank Group’s global reach and investment capabilities, the collaboration has the potential to catalyze positive change in the AMEA region’s clean energy landscape.
The renewable energy sector has gained significant traction in recent years as countries worldwide strive to transition away from fossil fuels and reduce greenhouse gas emissions. AMEA Power’s strong presence in multiple renewable energy sectors positions it as a key player in meeting the growing demand for clean energy solutions. The company’s focus on wind, solar, energy storage, green hydrogen, and water desalination aligns with global efforts to decarbonize the energy sector and promote sustainable practices.
As AMEA Power continues to expand its operations and pursue its ambitious growth plans, the partnership with SoftBank Group serves as a testament to the company’s potential and the increasing importance of renewable energy in shaping a sustainable future. With the support of SoftBank Group’s investment, AMEA Power is well-positioned to make significant contributions toward achieving global climate goals and fostering a cleaner, more sustainable energy landscape in the AMEA region and beyond.
