Access Power and Eren Solar PV Complex

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The project entails the construction, development and operation of two PV solar plants, located in Ben Ban, Aswan governorate in Upper Egypt. The total output of the plants is 100 MW. Access Power and Eren Holding are developing the project, in which they both hold equal stakes. This is a greenfield project initiated on a BOO modality. The plants are being procured under the country’s feed in tariff (FIT) round two program, under which developers are qualified to construct power facilities with a pre - determined tariff. Hence, projects is categorized as a license scheme project. Egypt’s Electricity and Transmission Company will purchase power from the projects under 25-year power purchase agreements. The required investment for all three plants stands at $154.6 million and is being financed with debt and equity, $116 million and $38.6 million respectively. The loans were provided by EBRD and Proparco (AFD) in equal amounts. Financial closure occurred on October 31st, 2017. https://ijglobal.com/data/transaction/38041/access-power-and-eren-solar-pv-complex-100mw