On March 20, 2026, the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, executed framework terms amounting to up to $1.48 billion with AMEA Power Ltd. (AMEA) of the Cayman Islands (and/or any of its group holding companies, subsidiaries, or affiliates) for its portfolio of equity and quasi-equity investments in its subsidiaries in ten African, Middle Eastern and Central Asian countries (Cote d’Ivoire, Djibouti, Egypt, Ethiopia, Jordan, Kenya, South Africa, Togo, Uganda, Uzbekistan). The projects include ownership, design, development, construction, financing, acquisition, operation, and maintenance of renewable energy and battery energy storage systems (BESS) projects, along with associated infrastructure and services for state-owned enterprises and commercial and industrial (C&I) offtakers.  

The cover is for eligible investments against the risk of war and civil disturbance, expropriation, transfer restriction and currency inconvertibility and breach of contract for a guarantee period of up to 15 years.  

AMEA Power, through its subsidiaries, develops, finances, and operates utility-scale solar PV, wind, and hybrid renewable energy projects, as well as water desalination facilities and related infrastructure. As of late 2025, the company manages a geographically diverse pipeline exceeding 12 GW of gross capacity and 800,000 m³/day of water desalination, with nearly 3 GW of installed or under-construction assets and over 3 GWh of BESS. AMEA Power’s projects are typically structured under long-term power purchase or concession agreements—often backed by sovereign guarantees—and are financed through a mix of equity, development finance institutions, multilaterals, and commercial banks.   

MIGA’s risk exposure under the guarantee will be shared with the IDA Private Sector Window (PSW) for the IDA eligible countries: Djibouti, Togo, Uganda, and Ethiopia. The PSW involvement would be done via a shared first loss layer designed to enable greater private investment in underserved markets and helping MIGA expand its reach in Africa, in particular in IDA and FCS countries.   

Environmental Categorization  

The Project is category [A] under the MIGA’s Policy on Environmental and Social Sustainability. Click here for the project’s Environmental and Social Review Summary.  

Development Impact  

AMEA Power’s investments facilitate the supply of green, renewable power with competitive tariffs at significant scale. Its investments further the role of role of private investment in energy sectors in the Africa, Middle East and Central Asia region and introduce grid-scale storage for the first time in several countries (Egypt, Uzbekistan), allowing for renewable energy to become a more reliable source of baseload power. The projects also help bolster grid resilience through a diversification of the electricity mix, reducing vulnerabilities to climate events or supply shocks to energy inputs. The portfolio aligns with the World Bank’s extensive work on upstream policy reform, technical assistance, and project-level financing in the renewables sector, and the projects reflect each country’s Country Partnership Framework (CPF), which prioritize growth, private sector development, and the expansion of renewable energy.