|Approval Date||04 Sep 2017|
|Signature Date||11 Oct 2017|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||23230|
The Project entails the design, construction, operation, and maintenance of a 50 MW turnkey solar PV project to be implemented under the Egyptian Solar Photovoltaic Feed-in Tariff Program Round-2, an initiative where the Government of Egypt seeks to implement 2,300 MW of Solar PV projects. The Project will be constructed in Benban, 50km north of Aswan, where the direct solar radiation is 2,280 kWh/m2. It is well aligned with the Bank’s mandate to support the development of clean energy technologies and private sector development within Africa. It will be executed by Shapoorji Pallonji Energy Egypt S.A.E. (“SPEE”), an SPV incorporated in Egypt. Successful implementation of the Project will enable diversification of the energy mix and further the green growth agenda of the bank. Construction is expected to last approximately nine months.
The Project will provide clean power that will help reduce the use of fossil fuels in the energy mix. Its implementation will increase Egypt’s power generation capacity, diversify the energy mix, enable fuel savings and reduce carbon emissions.
The production capacity for the new solar plant is estimated at 131 million kWh/year, enough to serve about 72,000 households. There are likely to be up to 500 jobs created during construction phase and up to 30 during operations.
African Development Bank
|Last Update||07 Aug 2020|