Saudi private sector power developer Acwa Power announced on 30 August that it had completed $180mn financing for 200MW of solar PV capacity at Kom Ombo in southern Egypt. Construction is already well underway with commercial operations slated for January 2024, Acwa says. MEES analysis of satellite imagery indicates that site work began in June but that no panels have as yet been installed.
A previously-announced $123mn financing package comprises: EBRD $35.6mn, UN Green Climate Fund $34.1mn, Opec Fund $14.4mn, African Development Bank $24.4mn, and Arab Bank $14.4 million (MEES, 28 April). Remaining financing has been covered by equity bridge loans from Apicorp ($45mn) and the EBRD ($14mn). (CONTINUED - 104 WORDS)