|Approval Date||03 Mar 2021|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||23230|
The Project consists of the design, construction and operation of a greenfield 200 MWac solar PV plant to be implemented under a Build, Own and Operate scheme (BOO). It is well aligned with the Bank’s mandate to support the development of clean energy technologies and private sector development within Africa. The project site of around 15km² is located on West river bank of the Nile, about 800 km South of Cairo, 15km from the 1.6 GW Benban solar park in Egypt. The Project scope includes a 4km access road, connecting the site to the Cairo-Aswa and construction is expected to last 10 months. The Bank provides a senior loan of up to USD 27.22 million with a tenor of up to 20 years which is not available from commercial sources. It complements other Bank’s operations in the energy sector in Egypt including the recent budget support to boost private sector investment in the energy sector and the 2017 facilities extended to the Egypt FiT projects (Alcazar, Delta and Shapoorji). Successful implementation of the project will enable diversification of the energy mix and further the green growth agenda of the bank.
The Project will increase Egypt’s installed power generation capacity from renewable sources, thereby reducing greenhouse gas emissions. It will lead to direct and indirect job creation during construction and during operation. The project will entail knowledge transfer to local stakeholders and local linkages with suppliers and service providers.
The Project will entail improved availability of clean power to consumers in Egypt. Furthermore, it is expected that the Project will generate 800 jobs during construction (400 full time equivalent) and 10 full time jobs during the operation of the power plant, 40% of which to be skilled. The female share of jobs is currently estimated at 2%.
African Development Bank
|Last Update||15 Jun 2021|