The EBRD said that such an action will promote the expansion of renewable energy in Egypt.
The new funding comprises a $4.95 million loan from the EBRD and a $550,000 concessional loan from the Global Environment Facility (GEF) to finance the construction and operation of a seven Mwp (megawatt peak) solar photovoltaic (PV) project in Minya governorate.
The project will sell all of its electrical output to ASCOM Carbonate and Chemical Manufacturing (ACCM) under a 25-year power purchase agreement.
The bank said that this tranche follows an initial $4.2 million loan extended in December 2020 to finance the construction and operation of a six MWp solar PV power plant at Dina Farms in the Beheira governorate. This plant was the first private-to-private renewable energy project financed by the EBRD in Egypt, it said, adding that the powerplant enables Dina Farms, the largest dairy farm…
EBRD releases $5.5 mln tranche financing for TAQA Arabia’s solar energy project in Egypt’s Minya – Energy – Business
