As part of its $US 500 million framework to support Egypt’s renewable energy development, The European Bank for Reconstruction and Development (EBRD) announced on Wednesday that it is financing 16 new solar power plants in the country with a capacity of 750 megawatts. The plants are located at a solar site in the vicinity of the Benban village in Upper Egypt, which once completed will be “the largest solar site in Africa,” with a capacity of 1.8 gigawatts, a statement released by the Bank read. The new plants are expected to reduce Egypt’s carbon dioxide emissions by 900,000 tonnes per year. In a previous statement, the bank said that these “will also be the first private utility-scale renewable projects in a sector that is otherwise dominated by the use of hydrocarbons.” In June, the EBRD approved the $US 500 million framework to finance renewable energy projects in Egypt under the Egyptian government’s feed-in-tariff program. The program aims to encourage private investment in wind and solar power in the country. With the approval of the framework, Head of Power and Energy at the EBRD Harry Boyd-Carpenter said, “This is a major milestone in…
16 New Solar Power Plants to Enrich Egypt’s Renewable Energy Sources
November 30, 2017
