TAQA Arabia, Hassan Allam break ground on EGP 1.35 bn Benban solar plant
Qalaa Holdings subsidiary TAQA Arabia and Hassan Allam Holding have begun constructing their EGP 1.35 bn, 50 MW solar power plant in Aswan’s Benban complex, Qalaa said in a statement to the EGX. The project is being finance by five international institutions, including the International Finance Corporation IFC, according to the statement. The power plant […]
LA Times: World’s largest solar farm rises in the Egyptian desert
In 1913 on the outskirts of Cairo, an inventor from Philadelphia named Frank Shuman built the world’s first solar thermal power station, using the abundant Egyptian sunshine to pump 6,000 gallons of water a minute from the Nile to irrigate a nearby cotton field. World War I and the discovery of cheap oil derailed Shuman’s […]
Infographic: The Benban Solar Park in Egypt (Forbes)
The Benban Solar Park in Aswan – Egypt. Graphics: Sally Hoteit (Source: Forbes Middle East)
Bloomberg: Desert Sun to Power Upper Egypt with $2.8 bn Solar Park
German-built solar plant is first to feed into grid in Aswan. Egypt targets producing 20% of power from renewables by 2022. Egypt inaugurated the first solar power plant at a remote desert complex where the government plans to generate as much as 1.8 gigawatts from the sun, cutting the most populous Arab nation’s reliance on […]
Egypt inaugurates first phase of 1.8 GW Benban solar park
Infinity Solar inaugurated its 50 MW power plant as part of Benban solar park. Egypt’s Minister of Electricity Mohamed Shaker inaugurated on Tuesday the first phase of Egypt’s Benban solar park in Aswan, set to be largest in the world upon completion at 1.8 GW total capacity, Arabic Ahram news website reported. The event marks […]
World’s largest solar park under development in Benban, Egypt
The Benban Solar Park aims to reach somewhere between 1.6-2.0GW of solar power by the middle of 2019. The projects will receive no incentives, however, it will be given a 25 year contract to sell its electricity at 7.8¢/kWh to the the state-owned Egyptian Electricity Transmission Company (EETC) and pegged to the value of the […]
Benban solar power complex wins Thomson Reuters’ Project Finance International Award
Egypt’s solar power complex Benban, located near Aswan, set to become the largest solar park in the world, won on Wednesday the Thomson Reuters’ project Finance International Award for “Global Multilateral of the Year,” Zulficar & Partners, a law firm that advised the Egyptian Electricity Transmission Company (EETC) on the project agreements, said in a […]
ACWA Power reaches financial close for three solar plants in Benban
ACWA Power’s three Solar PV projects for 165.5MWp under Round 2 of Egypt FiT program II reaches financial close. • ACWA Power has reached financial close of three solar photovoltaic power plants in Benban under Round 2 for 165.5MWp total capacity within the Feed-in-Tariff (FiT) program. • ACWA Power had signed the Power Purchase Agreement […]
The latest on Egypt’s burgeoning renewable energy sector
Egypt’s renewable energy sector under the second feed-in tariff program has been on a tear in the past couple of weeks. Herewith, a roundup of recent developments, including news yesterday and overnight (background here, here and here): International institutional interest in solar helps 30 companies close on power plants: The International Finance Corporation has been […]
BPE Partners, Infinity Solar invest $190m in 130 MW Benban solar plants
BPE Partners (formerly Beltone Private Equity), the Egypt-based Egypt-focused private equity manager, jointly with Infinity Solar Energy SAE “Infinity”, an Egyptian renewable energy developer, and Ib Vogt GmbH, an international solar developer established in Germany, have successfully reached financial closure of three solar power plants located in Benban, Egypt for a total capacity of 130MW. […]
