EBRD Kick-Starts Egypt Solar With $500mn Investment In 16 PV Projects

The EBRD is to lead financing for a total 750MW of PV capacity costing $1.15bn, potentially increasing Egypt’s installed solar size more than ten-fold.

The European Bank for Reconstruction and Development (EBRD) has approved almost $500mn of financing for 16 solar photovoltaic (PV) plants to be built at a designated solar projects site at Benban near Aswan in Upper Egypt.

The plants range in capacity from 20MW to 50MW and will have a combined generating capacity of 750MW. The London-based multilateral development bank estimates that a total investment of $1.15bn is required for the 16 projects, of which 13 have received board approval. The three others – led by Saudi firm Acwa Power – have passed their final review for EBRD funding and are set to be approved by the board later this month (see table). (CONTINUED - 856 WORDS)

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table Egypt’s Solar Projects At Benban With Ebrd Funding