Government contract win is the latest in the Caucasus region for UAE player, who was chosen last month by neighbour Armenia to start up solar ecosystem with 400MW push.
The investment, which is contingent on approvals, would help the Mansour Group-owned developer roll-out solar, wind, distribution infrastructure and EV charging systems in Egypt and neighbouring states.
Development financier walks PV Tech through project milestones under first solar-only stage of renewable programme, set now to diversify with €300m funding extension.
Development duo share plans for US$41m of debt to back 55MW project in Gegharkunik province, to be built by Dutch-Spanish consortium.
EBRD to help country tender 25MW of PV and 80MW of wind in 2019 and 2020 even as global experts argue 4.5GW of solar is possible if economics improve.
Developer links first 65MW of 400MW project at Benban complex, with panels supplied by LONGi and funded by development players keen on bifacial tech.
Development financier tells PV Tech why innovation makes sense in fiercely competitive PV region despite risks of untried technology.