Following the development stage of Enerray's three PV parks at the Benban solar complex, the company has announced the modules will be supplied by Suntech.
One project – of 25 MWp – has been developed by Winnergy for Renewable Energy Projects S.A.E., a special purpose vehicle owned by Al Tawakol Electrical (Gila) S.A.E., Enerray and Desert Technologies Industries Co. Ltd.
A second project, with the same capacity, has been developed by Arinna Solar Power S.A.E., owned by the Al Bilal Group for General Contracts Limited, Enerray, Desert Technologies and Tech Project Development Group Incorporated.
And the largest project – of 66 MWp – has been developed by ARC for Renewable Energy S.A.E., owned by SECI Energia S.p.A., Enerray and Desert Technologies.
Enerray intended to start construction on the project by last month to be able to announce a commercial operation date (COD) by Q2 2019. The financing, approved under the second round of Egypt’s solar feed-in tariff program, will be supported by a 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) at an effective feed-in tariff of $71/MWh. The PPA will be backed by a sovereign guarantee from the Egyptian Ministry of Finance.
With a projected capacity of over 1.6 GW, the Benban complex is set to be the largest PV complex in the world once commissioned. The park is financed by an international syndicate of development banks including the Asian Infrastructure Investment Bank (AIIB), the European Bank for Reconstruction and Development (EBRD) and the World Bank, who will be supplying $410 million, $500 million and $660 million, respectively.
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