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 in the Aswan governorate of southern Egypt.
EBRD will provide a senior debt financing of up to US$40 million co-financed with an equity bridge loan of up to US$14 million.
The project will be developed in a land area adjacent to a 26 MW solar plant of the New and Renewable Energy Authority (NREA) and about 17 km north of the 1.8GW Benban solar complex.
ACWA secured the project in a tender held in 2019 for an offered price of US$0.02791/kWh of the energy produced.
Country updates
-
-
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...
Read more -
February 26, 2020
Lekela starts the construction of the 250 MW West Bakr wind project in Gulf of Suez
Lekela has started the construction of its 250 MW West Bakr wind farm located 30 kilometers north-west of Ras Ghareb, Egypt. The West Bakr Wind project is a part of the Government’s Build,...
Read more -
December 17, 2019
PPA for 700 MW wind and solar projects signed in Egypt
AMEA Power, a subsidiary of Al Nowais Investments (ANI), has signed a power purchase agreement (PPA) with The Egyptian Electricity Transmission Company (EETC) for a 200 MW solar PV project and a 500 M...
Read more -
November 27, 2019
EDF invests in KarmSolar
EDF Renewables will enter into a strategic partnership in the development of distributed solar in Egypt. As part of this partnership, EDF Renewables will inject capital to take a strategic equity stak...
Read more -
November 05, 2019
ENGIE Africa consortium commissions 262.5 MW Ras Ghareb wind farm in the Gulf of Suez
ENGIE Africa has commissioned the 262.5 MW Ras Ghareb wind farm in Egypt. The wind farm is now fully connected to the grid and is ready for commercial operation at maximum capacity. The project compa...
Read more
