The African Development Bank’s Board of Directors has approved US$27.2 million in loan financing for the design, construction, and operation of a 200 MW photovoltaic solar power plant at Kom Ombo, in Upper Egypt on the river Nile.
The project is expected to lower electricity costs for businesses and residences, as well as reducing greenhouse gas emissions and creating construction and other jobs.
The project’s total cost is estimated at US$156.4 million. In addition to the Bank’s financing, structured as a senior loan, the European Bank for Reconstruction and Development, the Green Climate Fund (GCF), Arab Bank, and the OPEC Fund for International Development will contribute funding. The plant, 800 km south of Cairo, is owned by ACWA Power, a leading Saudi Arabian developer, investor, and operator of power generation and desalinated water plants worldwide.
Egypt is one of the founding members of the African Development Bank Group. Since starting lending operations in 1974, the Bank Group has financed over 100 operations in Egypt across several sectors.
Country updates
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February 22, 2021
ACWA Power awards EPC deal for Kom Ombo solar project to Sterling and Wilson Solar
ACWA Power has awarded a US$127.5 million contract to Indian EPC company Sterling & Wilson Solar to provide the engineering, procurement, and construction (EPC) services to the 200 MW solar p...
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November 04, 2020
Siemens delivers first batch of blades for the 250 MW West Bakr wind project in Gulf of Suez
Siemens has delivered the first blades at the site of the 250 MW West Bakr wind project located in Ras Ghareb, Egypt. Siemens will install 96 SG 2.6-114 turbines through a turnkey EPC contract a...
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September 18, 2020
ib vogt divests shares in 64.1 MWp Infinity 50 Solar Park in Benban to Masdar
ib vogt GmbH has announced the sale of its shareholding in the 64.1 MWp Infinity 50 photovoltaic project in Benban, Egypt to Masdar, Abu Dhabi’s renewable energy company. ib vogt and Masdar have...
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September 02, 2020
EBRD to provide US$54mn financing for solar project in Kom Ombo
The European Bank for Reconstruction and Development is considering the financing of up to US$54 million to ACWA for the development of the 200 MW solar photovoltaic plant located in the town Kom Ombo...
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May 08, 2020
Tender launched for waste-to-energy projects in Egypt
The Waste Management Regulatory Authority of Egypt has launched a Request for Expression of Interest (EoI) for the development of a waste-to-energy project with more than 20 MW eac...
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