Norwegian project developer Scatec Solar has announced financial close on six projects totaling 400 MW, to be built as part of the enormous 1.8 GW Benban Solar Park located in upper Egypt.
The European Bank of Reconstruction and Development has identified 16 new solar projects in Egypt with a cumulative capacity of 750 MW to receive financing, while International Finance Corp will support development of a further 13 solar parks.
Funds comprise $106 million in concessional finance and $4 million in technical assistance grant.
The European Bank for Reconstruction and Development (EBRD) today announced the completion of financing for two 50 MW PV projects, to be built as part of the 1.8 GW Benban Solar complex in Egypt’s Aswan province.
The Baikonur Solar project is planned for the Kyzylorda region. The project will be developed by Samruk Kazyna United Green Energy Ltd., which is also building two more 50 MW solar facilities financed by the EBRD.
The 50 MW Burnoye Solar-2 project will require a total investment of approximately $80 million and will be located in the southern region of Zhambyl.
The funds will be used to finance 13 large-scale PV projects being developed under the country’s FIT scheme. All the projects will be located near Benban in Upper Egypt.
The European Bank for Reconstruction and Development (EBRD) has announced a framework committing up to €300 million of new financing for Greece’s renewable energy sector. The timing is crucial, since the Greek electricity sector is expected to undergo fundamental changes very soon.
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