Egypt’s largest private solar plant, Kom Ombo has received $114 million financing package from the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund (GCF) and Arab Bank. The development agreement was witnessed by Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat, and Minister of Local Development Major General Mahmoud Sharawi, at the Ministry of International Cooperation’s headquarters. The development of the Kom Ombo solar plant will add 200 MW of energy capacity, increasing the share of renewable energy in Egypt’s energy mix and further promoting private-sector participation in the Egyptian power sector. The package comprises loans of up to US$ 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). The new Kom Ombo solar plant will add 200 MW of capacity and further increase the share of renewables in #Egypt’s energy…
Egypt’s Largest Private Solar Power Plant Receives $114 Million, Maximizing Clean Energy Potential
April 23, 2021
