The International Finance Corporation (IFC) has finalised a US$653 million debt package for 13 solar projects at the Benban Solar Park, near Aswan in Egypt.
Saudi Arabia has announced a US$500 billion investment for an industrial and business zone spanning 26,000 square km (10,230 square miles) over three countries, to be fully powered by solar energy and wind power.
Acciona Energía and Saudi Arabian firm Swicorp are to build and own three solar PV plants with a combined capacity of 186MW in the Benban solar complex in Aswan, Egypt.
Egyptian PV firm KarmSolar has signed a power purchase agreement (PPA) with two subsidiaries of major food exporter Dakahlia Group for two solar projects totalling 23.5MW in Egypt.
The European Bank for Reconstruction and Development (EBRD) is providing a US$28.5 million loan for a 50MW solar project in Egypt’s Aswan Province, which is being constructed by Saudi-based firm Alfanar Energy.
GE Power Conversion, a subsidiary of General Electric, has received a full turnkey contract from Fas Energy to develop a 50MW PV project for the Egyptian Electricity Transmission Company (EETC).
The European Bank for Reconstruction and Development (EBRD) and French financial company Proparco are set to help Egypt make major strides in the development of its renewable-energy sector.
