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The European Bank for Reconstruction and Development (EBRD) has released a tranche for TAQA's 7 MW solar photovoltaic (PV) project in El Minya, Egypt with US$5.5 million financing.
The funding consists of a US$4.95 million loan from the EBRD and a US$550,000 concessional loan from the Global Environment Facility (GEF). Under a 25-year power purchase agreement, the project will sell all of its electricity to ASCOM Carbonate and Chemical Manufacturing (ACCM).
