The European Bank for Reconstruction and Development (EBRD) is considering providing loans for 16 solar projects in Egypt that are to be built under the country's feed-in tariff (FiT) programme.
A total of USD 497.7 million (EUR 456.5m) in financing is being lined up for the solar plants, which represent 750 MW in capacity.
The projects include a portfolio of six 50-MW plants developed by Scatec Solar ASA (OSL:SSO). The Norwegian company last month announced the signing of power purchase agreements (PPAs) for the projects. EBRD is also to back a 120-MW portfolio developed by Saudi Arabia's ACWA Power, a 100-MW portfolio of EREN Renewable Energy and Access Infra Africa, as well as projects involving ib vogt and EDF Energies Nouvelles.
EBRD has previously unveiled plans to provide loans of up to USD 500 million to finance the construction and operation of projects under Egypt's FiT scheme. Its board is expected to decide on the individual loans on June 7.
The table below gives a summary of the proposed financing, co-financed with other parties, in USD millions.
| Project |
Loan of up to |
Project cost |
Borrower |
50-MW ACWA Benban
Solar PV I |
29 |
77.5 |
ACWA Power,
Hassan Allam |
20-MW ACWA Benban
Solar PV II |
11 |
29.4 |
ACWA Power,
Al Tawakol |
50-MW ACWA Benban
Solar PV III |
30.3 |
80.8 |
ACWA Power,
Hassan Allam |
30-MW Infinity/
ib vogt Solar PV 1 |
16.2 |
43.2 |
Infinity for Solar Energy SAE,
ib vogt GmbH |
50-MW Infinity/
ib vogt Solar PV 2 |
27.2 |
72.5 |
Infinity for Solar Energy SAE,
ib vogt GmbH |
| 50-MW Scatec Benban I (Aswan Solar Project) |
40.5 |
78.5 |
Scatec Solar, Norfund |
| 50-MW Scatec Benban II (Kom Ombo Project) |
40.5 |
78.5 |
Scatec Solar, Norfund |
| 50-MW Scatec Benban III (Sun Infinite Project) |
40.5 |
78.5 |
Scatec Solar, Norfund |
| 50-MW Scatec Benban IV (Red Sea Solar Project) |
40.5 |
78.5 |
Scatec Solar, Norfund |
| 50-MW Scatec Benban V (Zafarana Solar Project) |
40.5 |
78.5 |
Scatec Solar, Norfund |
| 50-MW Scatec Benban VI (Philadelphia Project) |
40.5 |
78.5 |
Scatec Solar, Norfund |
50-MW Alfa Solar
Binban PV |
29 |
74 |
Al Fanar Company |
50-MW ELSEWEDY
Benban PV |
27 |
72 |
EDF EN,
El Sewedy Electric |
50-MW EDF EN
Benban PV |
27 |
72 |
EDF EN,
El Sewedy Electric |
50-MW Access/
EREN Benban PV I |
29 |
72 |
EREN Renewable Energy SA,
Access Infra Africa |
50-MW Access/
EREN Benban PV II |
29 |
77.3 |
EREN Renewable Energy SA,
Access Infra Africa |
All of the facilities will be located in the proposed 1.8-GW Benban solar complex in Egypt's Aswan province and will be supported by Egypt's FiT programme for projects of up to 50 MW, that is aimed at delivering more than 4 GW of wind and solar power capacity.
(USD 1 = EUR 0.917)
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Author: EBRD. License: All rights reserved.
