The EBRD and Proparco will provide capital of a total of $116 million to finance the construction and implementation of two 50-MW
photovoltaic power plants in Egypt. The two plants are the first in the second round of Egypt’s feed-in-tariff (FiT) program to be financed.
The two plants will form part of the solar energy complex in Benban, located in the southern Upper Egypt province
of Aswan, with a planned total capacity of 1.8 GW.
These two projects are the first beneficiaries of the EBRD's new
Renewable Energy Financing Program in Egypt, with a total of $500 million to finance a total of 16 such projects with a final capacity of 750 MW.
The new power stations will be constructed and operated by two Egyptian
subsidiaries of the French renewable energy company EREN Renewable Energy and Access Power.
