Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTSeptember 1 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) is reviewing an application to extend debt financing for the construction of a 200-MW solar park in Egypt.
The application for senior debt financing of up to USD 40 million (EUR 33.4m) was put forward by a subsidiary of Saudi Arabia’s ACWA Power and concerns its Kom Ombo scheme in Aswan Governorate. After reviewing the project concept last week, the lender is expected to issue an approval on September 30, it said in a Project Summary Document (PSD) disclosure on Friday.
The USD-40-million loan will be co-financed with other parties, the EBRD said, adding that an equity bridge loan of USD 14 million will also be provided. The overall cost of the project is estimated at USD 155.4 million.
To be installed in Kom Ombo, the photovoltaic (PV) park is expected to generate enough power to meet the annual consumption of about 130,000 homes, once completed. Its construction will be facilitated by a power purchase agreement (PPA) with the government of Egypt, according to which power from the plant will be sold at USD 0.0248 per kWh. That this tariff was touted as the lowest one contracted for solar energy in North Africa.
ACWA Power previously said it plans to have the PV farm online in the first quarter of 2021.
(USD 1.0 = EUR 0.835)
Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTDuke Energy equips Hawaii university with solar and storage
May 27, 2022 17:17 CESTUS stays atop EY renewables attractiveness index, Spain heads PPA chart
May 27, 2022 16:32 CESTSavannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTCelsia building 260 MW of solar farms in Colombia
May 27, 2022 15:51 CESTAgrana, RWA equip Austrian fruit juice concentrate plant with solar modules
May 27, 2022 15:36 CEST