Globeleq completes acquisition of 66 MWp solar project in Benban

Independent power producer (IPP) Globeleq has completed the acquisition of a 66 MWp solar photovoltaic facility located within the Benban PV complex in Egypt.

The project was developed through the partnerships of SECI Energia, Enerray and Desert Technologies after the second round of the feed-in-tariff (FiT) program of the Egyptian government. The solar farm has been in operation since November 2019 under a 25-power purchase agreement (PPA) with the Egyptian Electricity and Transmission Company (EETC).

CDC Group, along with the International Finance Corporation (IFC), the Asian Infrastructure Investment Bank, Europe Arab Bank, and Finance in Motion has participated in the project’s financing. 

The financial information of the deal was not disclosed.