Egypt launches tenders for 250 MW solar park in Gulf of Suez
Egypt's New and Renewable Energy Authority (NREA) has launched a tender for the development of a 250MW solar plant in the Gulf of Suez.
According to sources, the tender has attracted interest from six firms and the NREA is currently stuying their proposals.
Several solar power plants are scheduled to be developed under second round of Egypt's feed-in tariff scheme, which involves private investment in solar parks in Aswan, Minya and the Gulf of Suez. The FiT program, which includes projects financed by institutions like the IFC, European Bank for Reconstruction and Development (EBRD) and Proparco, is expected to be one of the largest foreign direct investments (FDIs) in years, catalyzing a total inflow of US$2 billion.
As we reported in late August, the European Bank for Reconstruction and Development (EBRD) and Proparco provided US$116 million of financing for the construction and operation of two 50 MW solar photovoltaic power plants in Egypt. The new facilities will be constructed, operated and owned by two Egyptian subsidiaries of the French company EREN Renewable Energy and Access Power.
These were the first two projects to be financed under the Egypt's feed-in tariff plan for renewable and will be part of the planned 1.8 GW Benban solar complex in Aswan province, in the southern area of Upper Egypt.
They were also the first projects under the EBRD’s US$500 million framework for renewable energy in Egypt, approved in June, which is expected to finance a total of 16 projects delivering 750 MW of capacity and under Proparco’s dedicated envelope for solar projects in Egypt.
Additionally, in June, the International Finance Corporation (IFC), approved an investment of US$635 million to help construct, operate and maintain up to 11 solar power plants in Egypt.
We have lately informed about other renewable project in Egypt:
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August 25, 2017
EBRD, Proparco to finance two 50-MW solar projects under Egypt's round 2 FiT
Egypt has taken a major step forward in its use of renewable energy sources with the support of the European Bank for Reconstruction and Development (EBRD) and Proparco, a French financial institution that supports private sector development projects in emerging economies.
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July 28, 2017
IFC invests in World’s largest solar PV park in Egypt
The International Finance Corporation IFC, a member of the World Bank Group. has approved an investment of US$635 million that will help construct, operate and maintain up to 11 solar power plants in Egypt.
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June 13, 2017
EBRD agrees US$500m loan for solar projects in Egypt
The European Bank for Reconstruction and Development (EBRD) has approved a US$500 million framework to finance renewable energy in Egypt.
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April 25, 2017
Scatec Solar and partners sign PPAs for 400 MW in Egypt
Scatec Solar and partners have signed 25-year Power Purchase Agreements for delivery of electricity from six solar plants totaling 400 MW with the Government of Egypt.
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March 30, 2017
Egypt gets EIB loan for Gulf of Suez wind project
The EIB and the Arab Republic of Egypt signed a loan agreement of €115 million (US$124 million) for financing a windfarm in the Gulf of Suez to further expand energy generation from renewable resources.
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