64MW solar project secured under round one of Egypt Feed-in Tariff

Facebook
Twitter
LinkedIn
Reddit
Email
Given the difficulties the country has faced with its FiT, this project constitutes a landmark in the development of renewable energy infrastructure in Egypt and the MENA region beyond. Source: Flickr: May Anais Vataghene

Egyptian renewable energy provider Infinity Solar and Germany’s ib vogt and Solizer have reached financial close on a 64.1MW solar PV plant under round one of Egypt’s Feed-in Tariff (FiT) programme.

Financing was obtained from German commercial bank Bayerische Landesbank for 85% of the debt, with the remaining 15% coming from the Arab African International Bank. The loan was secured through the German government.

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

The Infinity 50 solar park, as it is known, is based in Benban, Aswan, and was officially approved this week by the Egyptian Electricity Transmission Company (EETC).

Given the difficulties the country has faced with its FiT, this project constitutes a landmark in the development of renewable energy infrastructure in Egypt and the MENA region beyond. The project is part of the Benban solar development complex with a total capacity of up to 1.86GWp, which will be one of the largest solar generation facilities in the world when completed.

“We are very pleased to have secured this project and to have been one of the very few consortia able to successfully qualify for the landmark Egyptian round one programme,” said Anton Milner, managing director of ib vogt in a statement. “This is the culmination of many months of preparatory work in what has been a very complex project, representing a very significant investment for the company. It also demonstrates the company’s ability to manage and structure such an undertaking. We would like to thank all of our partners for their efforts in assisting the consortium to secure the qualification for the project, the PPA and to achieve financial close. We look forward to constructing the plant and helping to bring much needed sustainable electricity with all its associated benefits to the country in 2017.”

The project will be comprised of almost 200,000 PV modules mounted on a horizontal tracking system. Once operational, it is expected to produce more than 110,000MWh annually; providing enough clean electricity to power around 69,000 homes while displacing more than 1,293,000 tonnes of carbon dioxide over 25 years. Electricity will be sold via a 25-year PPA to the EETC.

ib vogt will assume construction, EPC and O&M responsibilities for the project, which will create more than 400 jobs in the region during this phase.  Construction in fact is already underway and the plant is expected to be operational by early Q4 2017.

The plant will contribute to the country’s renewable energy goal of 20% by 2020, while marking a milestone in the development of sustainable large-scale power generation for a region where growth in demand for electricity is at 6-7% per annum.

Read Next

September 4, 2025
Fraunhofer ISE has completed testing work of grid-forming inverters currently available in the energy industry.
September 2, 2025
The Fraunhofer Institute for Solar Energy Systems (ISE) will build a pilot solar cell line in Germany to support US manufacturer Talon PV’s efforts to establish solar cell capacity in the US.
September 2, 2025
SMA Solar has forecast financial losses and further restructuring measures in 2025, as it responds to falling sales and a “challenging” market for residential and commercial renewable energy installations.
August 28, 2025
Bahraini, Chinese, Egyptian and Emirati groups have agreed to develop a new solar and storage manufacturing facility in Egypt
August 27, 2025
Independent power producer RP Global is building a 50MWp solar project in Harbke, Germany.
August 20, 2025
The consortium building the Al Sadawi PV power plant in Saudi Arabia has reached financial close on the 2GW project.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines