- Press Releases
October 22 (Renewables Now) - Egyptian energy company TAQA Arabia has put into operation a 6-MWp private-to-private solar park in the north of the African country that will supply green electricity to local dairy firm Dina Farms under a 25-year power purchase agreement (PPA).
The project was funded with a USD-4.2-million (EUR 3.6m) loan from the European Bank for Reconstruction and Development (EBRD) which was part of a USD-10-million financing package provided by the lender to expand TAQA Arabia’s private-to-private renewable energy business.
Located in the coastal Beheira Governorate in the Nile Delta, the facility will cover part of the energy needs at Dina Farms with green electricity. This is the first EBRD-financed project in Egypt that involves direct electricity supply from a privately-owned generator to a private off-taker through a corporate PPA.
Both TAQA Arabia and Dina Farms are subsidiaries of Egypt-based investment company Qalaa Holdings.
(USD 1 = EUR 0.859)