The European Bank for Reconstruction and Development (EBRD) is committing up to $221mn to a new Egypt-focused renewables investment platform with Norwegian developer Scatec. The move expands its involvement in Egypt’s renewable energy sector beyond project lending.
Scatec announced on 22 October that EBRD will own 40% of the venture, with the Norwegian firm retaining 60%. EBRD has committed up to $221mn to the new platform, of which around $170mn will be in equity and the remainder project-level guarantees. (CONTINUED - 825 WORDS)
