January 28 (Renewables Now) - A consortium led by local renewables developer Infinity Solar Energy SAE has put on stream a 30-MW solar power plant as part of the larger Benban photovoltaic (PV) complex in Egypt.
The European Bank for Reconstruction and Development (EBRD) said in a statement today that this is the first of 16 solar projects totalling 750 MW that are financed by the bank and are part of the Benban complex. The lender approved a USD-500-million (EUR 437m) framework in 2017 to back the development of these projects.
The other members of the Infinity Solar-led sponsor consortium include Germany-based Ib vogt GmbH, the investment arm of the Mansour and Maghraby Groups and private equity firm BPE Partners.
EBRD noted that the project is co-financed by the Dutch Development Bank (FMO) and the Green Climate Fund (GCF).
The entire Benban complex will have a contracted capacity of 1,465 MW.
(USD 1.0 = EUR 0.875)