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Egypt: Egypt Round II Solar PV Feed-in Tariffs Program

SUMMARY

STATUS
Approved
MEMBER
Egypt
SECTOR
Energy
E&S CATEGORY
Category B
PROJECT NUMBER
000035

FINANCING

PROJECT TYPE
Cofinanced
APPROVED FUNDING
USD210 million
FINANCING TYPE
Nonsovereign

TIMELINE

CONCEPT REVIEW
May 30, 2017
APPRAISAL REVIEW/FINAL REVIEW
July 27, 2017
FINANCING APPROVAL
September 4, 2017

OBJECTIVE

The objectives are to increase Egypt’s generation capacity by exploiting its vast renewable energy potential and help the country to meet its power demand and to reduce the dependence on gas and fuel for electricity generation and move to a more balanced and environmentally sustainable energy mix. 

DESCRIPTION

The project consists of 11 photovoltaic solar power plants (the Sub-projects), 9 x 50MWac and 2 x 20MWac, all to be located in the Benban Solar Park near Aswan, with an aggregate power generation capacity of 490MWac. The solar power plants will be developed by different Sponsors and all output generated will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement.

PROJECT FINANCING

For more information about project financing, please review the below project summaries.

ENVIRONMENTAL AND SOCIAL INFORMATION

For more information, please refer to Section IV section in the project summary documents.

PROJECT TEAM LEADER

Alok Dayal

Senior Portfolio Monitoring Specialist

alok.dayal@aiib.org

BORROWER

Please review the below Project Summaries for more information about the borrowers

IMPLEMENTING ENTITY

N/A

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