Egypt s Kom Ombo solar plant receives funding energyglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energyglobal.com Daily Mail and Mail on Sunday newspapers.
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The European Bank for Reconstruction and Development (EBRD), the Opec Fund for International Development and the African Development Bank signed a $114 million financing deal with Acwa Power for the construction of a new solar plant in Egypt as the Arab world s most populous country continues to focus on developing renewable energy projects.
The Green Climate Fund (GCF) and Jordan’s Arab Bank are also involved in the deal, a joint statement from the lenders said on Thursday.
The development of the 200 megawatt Kom Ombo solar plant will increase “the share of renewable energy in Egypt’s energy mix and further promoting private sector participation in the Egyptian power sector”, the statement said.
As oil rebounds and economy is poised to recover Iraq eyes foreign investment thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
Dubai: The Arab Petroleum Investments Corporation (APICORP), the Riydadh headquartered multilateral development financial institution posted a 3 per cent year-on-year rise in net income from $112 million in 2019 to $115 million in 2020.
The key drivers include a 6 per cent year on year growth in Apicorp’s corporate banking portfolio to reach $3.9 billion, as well as a 13 per cent growth in its treasury & capital markets portfolio, which also netted $46 million in capital gains, a 488 per cent increase from the prior year.
The Corporation’s balance sheet increased from $7.34 billion to $7.89 billion in 2020, a 7.5 per cent uptick which is higher than the 5 per cent CAGR recorded over the past five years.