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Tag: Benban

Egypt inaugurates first phase of 1.8 GW Benban solar park

Posted: March 16, 2018 at 2:05 pm   /   Renewables

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 […]

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World’s largest solar park under development in Benban, Egypt

Posted: February 26, 2018 at 10:54 pm   /   Renewables

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 […]

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Benban solar power complex wins Thomson Reuters’ Project Finance International Award

Posted: February 9, 2018 at 8:29 pm   /   Renewables

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 […]

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ACWA Power reaches financial close for three solar plants in Benban

Posted: January 9, 2018 at 1:10 pm   /   Renewables

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 […]

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The latest on Egypt’s burgeoning renewable energy sector

Posted: November 2, 2017 at 7:43 pm   /   Renewables

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 […]

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BPE Partners, Infinity Solar invest $190m in 130 MW Benban solar plants

Posted: November 1, 2017 at 5:02 pm   /   Renewables

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. […]

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A New Solar Park Shines a Light on Egypt’s Energy Potential

Posted: October 31, 2017 at 4:57 pm   /   Renewables

This story is part of a series on IFC’s work to help create markets that give new opportunities to people in developing countries. These innovative approaches have helped solve some of the largest problems in countries or, sometimes, entire regions. By Andrew Raven, IFC Communications Few places are as barren as Egypt’s Western Desert. Save […]

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Egypt signs $653 million funding deal with IFC for Benban solar park

Posted: October 30, 2017 at 11:54 pm   /   Renewables

IFC-Led Consortium Invests $653 Million to Support the World’s Largest Solar Park in Egypt. IFC, a member of the World Bank Group, today finalized a landmark $653 million debt package that will finance the construction of 13 solar power plants near the Egyptian city of Aswan. The plants will be part of the larger Benban […]

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EBRD, Proparco commit $116 million to finance Benban solar power plants

Posted: August 22, 2017 at 3:33 pm   /   Renewables

EBRD and Proparco sign first projects under Egypt Renewable Energy Framework. The two institutions have committed US$ 58 million each for two 50 MW solar photovoltaic power plants. Egypt has taken a major step forward in its use of renewable energy sources with the support of the European Bank for Reconstruction and Development (EBRD) and […]

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Saudi ACWA Power awarded three solar contracts in Egypt

Posted: August 9, 2017 at 11:46 am   /   Renewables

ACWA Power awarded 3 Solar PV projects under Round 2 of Egypt FiT program II ACWA Power signed the Power Purchase Agreement with the Government of Egypt for three solar photovoltaic power plants in Benban under Round 2 of the Feed-in-Tariff (FiT) program in the presence of H.E. Prime Minister of Egypt, H.E. Ambassador of […]

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