SACE and AMEA Power L.L.C. sign collaboration agreement to develop projects in Africa and the Middle East under the ‘Mattei Plan’
SACE, the Italian insurance-financial group specializing in supporting businesses and the national economic system under the Ministry of Economy and Finance SACE and AMEA Power L.L.C., a full-service power development company aiming to lead the development of power generation assets in Africa, Middle East and Asia, today signed a collaboration agreement to identify transactions of mutual interest primarily in Africa and find strategic alignment with the Mattei Plan launched by the Italian Government.
The agreement has been signed by Alessandra Ricci, CEO of SACE, and Yousif Al Nowais, Board Member of AMEA Power L.L.C., during the Italy – UAE Business Forum at Rome, Parco dei Principi Hotel, at the presence of The Italian President of the Council of Ministers Giorgia Meloni and the President of the United Arab Emirates, Mohammed bin Zayed Al Nahyan.
The initiative aims to find insurance and financial solutions for an amount up to 250 million dollars, that involve the participation of SACE to facilitate export and internationalization of Italian companies. Transactions in Africa shall focus mostly on the following strategic sectors: renewable energy production, water and desalination, green ammonia and green hydrogen production and even other sectors in line with both the Mattei Plan for Africa and Amea Power’s main business lines.
Moreover, this cooperation is aimed to enhance procurement from Italy also through untied loans guaranteed by SACE – though Push Strategy facilities - and the organization of matchmaking initiatives.
Alessandra Ricci, Chief Executive Officer of SACE remarked: “We are thrilled to partner with AMEA Power L.L.C. in this initiative thanks to our Dubai team office. This cooperation reflects our commitment to exploring mutual opportunities and organizing events involving AMEA Power L.L.C. and Italian business communities. We are especially focused on strategic sectors, and we are open to exchange information on ongoing or potential new projects and best practices in areas of mutual interest, in order to create a strong synergy that benefits both economies”.
Yousif Al Nowais, Board Member of AMEA Power stated: “Our partnership with SACE is a key initiative through which we aim to unlock new opportunities in strategic sectors such as renewable energy. By working together, we can drive impactful projects that support economic growth and advance the clean energy transition across Africa and beyond."