EBRD finances 50 megawatt project in Egypt

The Saudi Arabian company Alfanar Energy is building a 50 megawatt power plant in the Benban solar complex in the Egyptian province of Aswan. The project is funded by the European Bank for Reconstruction and Development (EBRD) with $28.5 million. In Benban, the Egyptian government is planning to install a total of 1.8 GW of photovoltaic power.
The 50 MW plant is the third project under a $500 million programme for renewable energy projects in Egypt, which the EBRD launched in June. The EBRD has confirmed 16 solar power plants with a total capacity of 750 MW for the programme.
To date, the EBRD has invested a total of approximately $3.7 billion in 111 renewable energy projects with a total capacity of 5.7 GW in 23 countries.

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