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Tag: Benban

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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EBRD approves $500 million for private renewable projects in Egypt

Posted: June 11, 2017 at 5:46 pm   /   Renewables

The European Bank for Reconstruction and Development (EBRD) has taken a major step forward in the rollout of renewable energy with the approval of a US$ 500 million framework to finance renewable energy in Egypt. The financing, approved by the EBRD’s Board of Directors on 7 June 2017, supports the development of private renewable energy […]

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Egypt to boost use of renewable energy to 22% by 2020

Posted: April 20, 2017 at 2:27 pm   /   Renewables

Egypt aims to increase its use of renewable energy to 22 percent by 2020, the country’s Investment and International Cooperation Minister Sahar Nasr told Regional Director of Norway’s Scatec Solar Morten Langsholdt during a Cairo meeting on Sunday. According to an official press release by the ministry, Nasr told Langsholdt that Egypt is keen on […]

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Scatec Solar and partners sign Power Purchase Agreements for 400 MW in Egypt

Posted: April 20, 2017 at 2:13 pm   /   Renewables

Scatec Solar and partners have signed 25-year Power Purchase Agreements for delivery of electricity from six solar plants totaling 400 MW (DC) with the Government of Egypt. The signing ceremony took place in Cairo on April 13 in the presence of Egyptian Minister of Electricity and Renewable Energy Dr. Mohamed Shaker El-Markabi and the Ambassador […]

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UN body to certify Scatec Solar projects in Africa including Benban

Posted: February 21, 2017 at 12:37 pm   /   Renewables

The United Nations Framework Convention on Climate Change (UNFCCC) will certify and credit carbon emissions avoided from solar electricity generated by three Scatec Solar power plants in Africa, with Egypt’s Benban project undergoing validation. The certification establishes that the carbon emissions avoided from the solar facilities are real, verifiable and permanent. The successful registration of […]

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Italy's Enel Green Power exits Egypt's renewable energy market over price and arbitration disagreements

Posted: July 26, 2016 at 8:32 pm   /   Renewables

Italy’s Enel Green Power has exited the Egyptian renewable energy market and is seeking compensation for investments it has already injected, according to Al-Borsa newspaper. The move comes as international investors and the government disagree on the government’s insistence over domestic arbitration and pricing concerns due to lingering fears of further devaluation of the Egyptian […]

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ACWA Power invests EGP 20 million in three renewable energy projects

Posted: July 14, 2016 at 3:50 pm   /   Renewables

Saudi’s ACWA Power has invested EGP 20 mn in three renewable energy projects in Egypt under the feed-in-tariff system, Regional Director Hassan Amin told Al Mal. The projects include two wind farms and a solar power plant each with a capacity of 50 MW, he added, and are located in Benban and Ras Gharib. The […]

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