Saudi firm inks deal for 50 MW Egyptian PV project

Saudi renewable power project developer alfanar Energy is set to build a 50 MW solar photovoltaic (PV) plant in Egypt after inking a deal last week.

The power purchase agreement (PPA) was signed with the Egyptian Electricity Transmission Company.

Under the terms of the agreement, the plant will be built as part of the proposed 1.8 GW Ben Ban solar power complex in the Aswan governate in Upper Egypt.

The 14. 4 square mile Ben Ban complex, administered by the New and Renewable Energy Authority, is planned to consist of 41 PV plants developed by 39 private developers under Egypt’s feed-in tariff scheme. The $3.5bn complex is expected to come online in 2018. à‚ 

Other companies developing PV plants at Ben Ban include Egypt’s Infinity Solar and Cairo Solar, The Netherlands’ Lekela Power, Norway’s Scatec Solar, and Germany’s ib vogt GmbH and Solizer GmbH.

alfanar Energy said it had secured $55m in funding for its project from the European Bank for Reconstruction and Development and the Islamic Corporation for the Development of the Private Sector.

Egypt aims to meet 20 per cent of its power needs with renewable sources by 2022.

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