Scatec issues green bonds worth $335 mn to refinance projects in Egypt
Norway’s Scatec has issued green bonds worth $335 million to refinance six solar projects in the southern Egyptian city of Aswan, a statement by the Egyptian cabinet issued on Wednesday said. The projects have a capacity of 380 Megawatts, the statement said. Norway’s Scatec will issue USD 335 mn worth of green bonds to refinance […]
EBRD approves its new Egypt country strategy for 2022 to 2027
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved its country strategy for Egypt, which focuses on three key priorities identified in cooperation with the Egyptian government and aligned with its ambitious, recently launched reform programme. In the period from 2022 to 2027, the Bank will focus on three strategic priorities: promoting a more […]
EBRD backs Scatec Solar $100 million Benban green bond
EBRD backs Scatec Solar Benban green bond: The European Bank for Reconstruction and Development (EBRD) will subscribe to almost a third of Scatec Solar’s upcoming green bond issuance, which will use the proceeds to support its solar plants in Benban, according to the bank’s website. The lender will contribute USD 100 mn to the USD 340 mn […]
TAQA Arabia inaugurates pioneering 6MW solar plant at Dina Farms
TAQA Arabia, Qalaa Holdings’ Energy Sector subsidiary, has announced in an event the commercial operation of its latest green private-to-private project in Egypt, a 6MWpv solar power plant for Dina Farms. The plant is funded by the European Bank for Reconstruction and Development (EBRD) as part of a financing package of up to US$ 10 […]
EBRD assisting Egypt with green hydrogen development studies
The European Bank for Reconstruction and Development (EBRD) is assisting the Egyptian and Moroccan governments with studies for developing green hydrogen. Speaking at the World Hydrogen Mena online conference on 21 April, Gabriel Lastours, head of energy Middle East and Africa at EBRD, said that the development bank was doing studies for the governments in […]
EBRD loans Alexandria Petroleum $250 mn for efficiency upgrades
Egypt’s Alexandria Petroleum going greener with USD 250 million EBRD loan: The European Bank for Reconstruction and Development (EBRD) will provide state-owned Alexandria Petroleum Company (APC) with a USD 250 mn sovereign loan to partially finance USD 647 mn in water and energy efficiency upgrades at the company’s diesel refinery, according to an EBRD statement. […]
EBRD to provide $50m long-term loan for Egypt’s Ras Ghareb wind plant
EBRD to provide long-term loan to Egypt for large wind plant in Gulf of Suez: The EBRD has approved a USD 50 mn long-term loan to help finance a USD 560 mn, 500 MW wind power plant in the Gulf of Suez. The plant, which will be located approximately 40 km northwest of Ras Ghareb, […]
Parliament approves $50m EBRD loan for SOPC’s energy efficiency improvement
The House of Representatives has ratified an additional $50m financing agreement for the Suez Oil Processing Company’s (SOPC) Energy Efficiency Improvement Program. The agreement was signed between the Ministry of International Cooperation, acting on behalf of the Egyptian government, and the European Bank for Reconstruction and Development (EBRD). The agreement aims to raise energy efficiency […]
Suez Oil Refinery in Egypt lent $50 million for energy efficiency upgrades
A London-based bank is supporting the modernisation of Egypt’s oil industry with a $50 million (£39m) loan to support energy efficiency investments at a refinery. Suez Oil Processing Company (SOPC) will use the grant from the European Bank for Reconstruction and Development (EBRD) to improve its refinery’s operational efficiency and introduce cleaner fuel. The measures […]
EBRD could invest $60 million in Infinity Solar’s renewable energy projects
The European Bank for Reconstruction and Development (EBRD) could invest USD 60 million in Infinity Solar to develop new renewable energy projects, it said in a statement. The bank plans to invest in electricity distribution infrastructure and EV charging stations, in addition to either new solar plants or onshore wind facilities. “The project is in […]
