SoftBank backs African renewable energy developer

AMEA Power, a renewable energy developer in Africa, has signed a $75 million equity funding round from SoftBank Group, a Japanese investment holding company. This represents AMEA Power’s first external equity funding following years of being privately funded by its founding shareholders, the Al Nowais family.

The capital raise from Softbank is an all-equity round. Several international institutional strategic corporate and financial investors are also evaluating a potential investment.

Founded in 2016, AMEA Power has assembled a team of industry experts to deliver projects across Africa, the Middle East and other emerging markets. AMEA Power is quickly scaling up its investments in wind, solar, energy storage, green hydrogen, and water desalination. 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.

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