EBRD allocates US$500 million for Egypt’s solar programme

Facebook
Twitter
LinkedIn
Reddit
Email
Egypt targets 20% of the country’s electricity coming from renewables by 2020. Credit: EBRD

The European Bank for Reconstruction and Development (EBRD) has allocated up to US$500 million in support of Egypt’s solar energy programme in 2016.

The programme is aiming for up to 2GW of utility-scale solar capacity delivered through 40 projects of 50MW each. This will be part of the country's target to source 20% of its electricity from renewables by 2020.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Many of these projects will be located on a planned 1.8GW site near Benban in north Egypt.

The EBRD expects to finance several such plants and mobilise up to US$1.5 billion in debt and equity from other financiers for these ventures. The total cost of the projects is expected to be in the region of US$4 billion.  

The solar projects, to be constructed entirely by private firms, have been supported by recent reforms. The EBRD said it has worked closely with the Egyptian authorities to provide technical cooperation during the development of a legal and regulatory framework for renewable energy. This included contractual agreements, the solar grid code and environmental and social due diligence.

Nandita Parshad, EBRD director for power and energy, said: “Successfully implementing the feed-in tariff programme will unlock Egypt’s potential by providing a regulatory framework that can attract private capital. This initial programme is significant in itself. But the really exciting element is that once the country has an established model for private investment in renewables, there will be huge potential for widespread, rapid deployment, thanks to Egypt's fantastic resources and the falling cost of renewable generation.”

EBRD recently approved a US$250 million credit facility for private sector renewable energy projects in Egypt, Morocco, Jordan and Tunisia. Once implemented, the total EBRD investment in renewables will surpass US$5 billion.

In August, the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) have announced three new tenders for 500MW of new solar and wind capacity for the West Nile area of the country.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
October 6, 2025
US utility AES Corporation is reportedly in discussions to be acquired by Global Infrastructure Partners (GIP), a subsidiary of global asset owning giant BlackRock.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK