Scatec Solar has obtained financing from the European Bank of Reconstruction and Development (EBRD) for the development of six solar plants in Egypt. The EBRD will provide the firm with $335 million in financing.
The six solar plants to be developed by Scatec will add a combined capacity of 300 MW to Egypt’s national grid.
The other institutions involved in the raising of these funds are the Green Climate Fund (GCF), the Islamic Development Bank (IDB), the Islamic Society for Private Sector Development (ICD) and the Dutch Development Bank (FMO).