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Mena energy investments to top $80bn by 2025: Apicorp
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Financing agreement signed for Kom Ombo Solar power plant in Egypt
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Egypt s largest solar plant, Kom Ombo, receives US$ 114 million financing package | The Guardian Nigeria News - Nigeria and World NewsAPO Press Releases — The Guardian Nigeria News – Nigeria and World News
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Egypt’s largest solar plant gets $114 million financing package
5 hours ago Top officials during a virtual signing agreement. The European Bank for Reconstruction and Development (EBRD), the Opec Fund for International Development (the Opec Fund), the African Development Bank (AfDB), the Green Climate Fund (GCF) and Arab Bank recently signed a $114 million financing package with ACWA Power for the construction of the largest private solar plant in Egypt.
The development of the Kom Ombo solar plant will add 200 MW of energy capacity, increasing the share of renewable energy in Egypt’s energy mix and further promoting private-sector participation in the Egyptian power sector.
Egypt’s largest solar plant, Kom Ombo, receives US$ 114 million financing package
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EBRD, OPEC Fund, AFDB, GCF and the Arab Bank to finance the 200 MW solar plant in Egypt
Kom Ombo solar plant to be developed, constructed and operated by ACWA Power
Financing package to increase renewable energy in Egypt The development of the Kom Ombo solar plant will add 200 MW of energy capacity, increasing the share of renewable energy in Egypt’s energy mix and further promoting private-sector participation in the Egyptian power sector. The package comprises loans of up to US$ 36 million from the EBRD, US$ 18 million from the OPEC Fund, US$ 17.8 million from the AfDB, US$ 23.8 million from the GCF and US$ 18 million from Arab Bank. This is in addition to equity bridge loans of up to US$ 14 million from EBRD and US$ 33.5 million from Arab Petroleum Investments Corporation (APICORP).