Hussain Al Nowais is a highly respected businessman in the financial and investment sectors of the United Arab Emirates and the Gulf Region. Lately, his contributions to green energy are recognized throughout the Middle East, Africa and Asia, and in the following article, Hussain Al Nowais discusses how the energy arm of Al Nowais Investments is transforming communities through developing clean power projects and alongside effective social development.
One of the fastest-growing renewable energy establishments in the field, Al Nowais Investments, via its subsidiary AMEA Power, is dedicated to providing clean energy to many areas of Africa, the Middle East, and Asia. Whether one is heavily involved in the clean energy scene or not, Hussain Al Nowais explains that the energy arm of Al Nowais Investments is the company to keep an eye on over the next few years.
The company is successfully bringing clean energy to places that have never had energy in the first place. What does the world need to know about this fast-growing company? Hussain Al Nowais discusses everything there is to know about the energy arm of Al Nowais Investments.
Introduction of the Energy Arm of Al Nowais Investments
Established in 2016, The company owns and operates renewable generation assets backed by utility and corporate power purchase agreements, with a primary focus on the Middle East and Africa. Over the years, the energy arm of Al Nowais Investments has created a leading team of global industry experts whose projects and work will help to establish clean energy around the world.
They are currently rapidly expanding their investments in wind power, solar energy, battery storage, green hydrogen / green ammonia, and water security, setting up green desalination plants powered by green energy where the supply of water is more reliable. Needless to say, they are completely dedicated to the global energy transition and are actively working towards making clean energy a possibility for everyone.
Hussain Al Nowais explains that the company has deployed clean power projects in Togo, Jordan and Morocco. And it is building solar and wind power projects in Zimbabwe, Zambia, Malawi, the Democratic Republic of Congo, Uganda, Kenya, Gabon, Ethiopia, Djibouti, Chad, Ivory Coast, Burkina Faso, Mali, Tunisia, and Egypt, with plans to arrange even more for the coming years.
Currently, the company holds a portfolio of about 6GW of renewable energy projects with 230 MW (megawatts) in operation or under construction and 5.7 GW in the pipeline.
It’s clear to see from this data that the energy arm of Al Nowais Investments is committed to economic and social development, especially in the communities where they are building their projects. Below, learn more concerning the projects they are working on currently, and what potential investors need to keep an eye on when it comes to this Dubai-based company.
Current Projects
The energy arm of Al Nowais Investments was given a 120MW solar photovoltaic (PV) project based in South Africa. Based in Tzaneen in Doornhoek, the project is going to sell electricity to the state utility Eskom. This will occur under a 20-year power purchase agreement, or PPA.
On the topic of good news for the company, Hussain Al Nowais says that they are the largest shareholder in this project ($120mn), and they have teamed up with a consortium. With this consortium’s help, the company has high hopes for success in this new venture.
This isn’t the only good news for the energy arm of Al Nowais Investments when it comes to recent projects. In fact, in late November, the company announced that it had the capability to deliver 1GW (gigawatt) worth of renewable energy projects to Egypt.
The landmark 500MW wind and 500MW solar projects, represent US$1.1 billion of investment into the Egyptian economy and takes the Company’s clean energy portfolio to 2GW in the country.
On Jan 16th 2023, the energy arm of Al Nowais Investments signed a concession agreement and 25-year Power Purchase Agreement (PPA) with the Government of Ivory Coast for a 50MW solar PV project in the country.
At a total investment of around US$60 million, the solar project in Ivory Coast is being fully developed by the company under a Build-Own-Operate and Transfer (BOOT) model and will generate more than 85GWh of clean energy per year, enough power for around 350,000 people.
The signing ceremony took place on the sidelines of Abu Dhabi Sustainability Week in the presence of H.E. Tiemoko Meyliet Koné, Vice President of Ivory Coast. The concession agreement was signed by H.E. Mamadou Sangafowa-Coulibaly, Minister of Mines, Petroleum and Energy of the Ivory Coast and Hussain Al Nowais.
So, all is well and good, but what about the achievements of the company? For some, it may be confusing to hear all of these industry related terms about clean energy. In this case, diving a bit deeper may be necessary. Hussain Al Nowais starts with the basics.
Clean Energy
What exactly is renewable energy? According to Hussain Al Nowais, renewable energy is essentially energy that comes from renewable, almost zero emission sources that do not pollute the atmosphere when used, as well as energy saved by energy efficiency measures, and it’s the future of energy throughout our world.
Hussain Al Nowais maintains that there are some common terms one must learn and understand before being able to truly appreciate the achievements of the energy arm of Al Nowais investments. More on these industry terms below.
The Important Terms of the Renewable Energy Industry
The renewable energy industry is set on creating and distributing usable and clean energy for communities, and eventually, the whole world. Hussain Al Nowais says that, while this rather new industry has recently been on the rise due to the growing awareness of climate change consequences on our planet, it has been growing steadily since the early 2000s, and is estimated to become a trillion-dollar industry by 2050. This is the same as the current oil market.
Hussain Al Nowais explains that wind energy consistently comes out on top as the most profitable area in renewable energy, although solar power is proving to be quite cost-effective and abundant in Africa.
Overall, the industry is ever-changing and ever-growing, but right now the priority is to gradually bring renewable energy to the areas of the world that need it the most. As an industry, it aims to promote the reduction of fossil fuels and carbon emissions through its production of green, clean energy.
How the Energy Arm of Al Nowais is Changing local communities
Now, based on this knowledge of the energy arm of Al Nowais, it’s no surprise that they are quickly becoming leaders in the industry. Their projects in remote areas that need clean energy the most are normalizing green energy elsewhere, and making it easier for other companies to do the same.
The work that’s done at the energy arm of Al Nowais is crucial to the development of clean energy as a whole, and local communities. helping support communities in Africa is of significant importance is very important to the owner of this fast growing company.
Renewable energy overall aims to reduce carbon emissions and use of fossil fuels, and the energy arm of Al Nowais is doing precisely that, and more. Hussain Al Nowais says: “I am so proud that we build community partnerships, we pay big attention to corporate social responsibility”. building clinics, constructing primary schools, or renovating them, providing locals with free electricity; are among the initiatives the company is doing. Plants offer as well, internship programs for engineering students from various technical institutions in some areas where it operates.
The Future of The Energy Arm of Al Nowais Investments
Focusing on the project discussed earlier, Hussain Al Nowais explains that many international organizations have now realized the importance of implementing clean energy projects and are looking to fund viable projects from reputed companies. “We work with people like IFC of the World Bank, the Dutch Government’s FMO, the Africa Development Bank, the Islamic Development Bank, Abu Dhabi Fund for Development (ADFD) and Japan International Cooperation Agency (JICA)”, says Hussain Al Nowais.
This just goes to show how successful the energy arm of Al Nowais Investments has been in normalizing investments in the clean energy industry. Overall, they have partners from all over the world supporting their various projects. This is contributing to the increase in the industry’s overall success and is helping other companies make bigger strides when it comes to clean energy.
Expansion
Back in November, Hussain Al Nowais reported that the company announced that it would be expanding the “Mohammed Bin Zayed Solar Power Plant” located in Togo. It would be growing from 50MW to 70MW, which would then make it the largest solar PV plant in all of West Africa.
This power plant is a piece of something bigger, however. It’s a part of Togo’s National Development Plan, which is a plan that aims to provide universal access to electricity by 2030. Always aiming to be a part of something bigger, the energy arm of Al Nowais is helping dreams come true when it comes to renewable energy. So, what’s next?
The Future of the Industry
“There have been many ambitious yet practical plans that will become a reality within the next couple of years,” explains Hussain Al Nowais, chairman of the company. He recently disclosed some of the plans that the energy arm of Al Nowais Investments has in mind.
Starting off, they are said to be working on finalizing the paperwork required to get started on a solar power project in Mali. This is exciting news, as Mali has been vocal about its plans involving renewable energy.
On top of that, the company also has a solar project under construction in Burkina Faso, and sees much potential in East Africa. With that being said, there is a wide range of projects coming up that will send the energy arm of Al Nowais Investments even higher in the clean energy industry.
The company also plans on supporting Kenya in its mission to bring clean energy to the country.
The world of renewable energy is about to get bigger, and this company has big plans for Africa and beyond.
Final Reflections
All in all, there is so much to the world of renewable energy, and the industry continues to grow. For starters, we can see that companies like AMEA Power, the energy arm of Al Nowais Investments are establishing clean energy as the standard in countries throughout the African continent and the Middle East, and beyond.
It’s no secret that climate change is becoming increasingly daunting in our time. We need to focus our own energy on things that can combat the increase in carbon emissions and fossil fuels so that our planet can become a little healthier, and that’s exactly what the energy arm of Al Nowais Investments is striving to do.
Hopefully, in the coming years, we will see increasing change in the world of clean energy. Until then, we can look towards companies like Al Nowais Investments, which are changing the industry standards every single day with their projects, and are helping bring renewable energy into the hands of civilians worldwide.
