Alcazar Energy Solar Plant

active

The project entails the construction, development and operation of a 50 MW solar PV plant within Egypt’s New and Renewable Energy Agency (NREA)’s 37.5 km2 Benban 1.8 GW PV solar park comprising 39 separate PV plots near Benban village, close to Aswan city, in the Aswan Governorate of Upper Egypt. ALCAZAR ENERGY EGYPT SOLAR 1 SAE is the project company that will undertake the project development and is sponsored at 99.9% by Alcazar Energy, and 0.01% by Enerpal. IB Vogt will undertake the EPC contract and O&M of the plant. This is a greenfield project initiated under a BOO modality. The project company was awarded the contract on a license scheme with a predetermined tariff rate. The state-owned Egyptian Electricity and Transmission Company will offtake power from the project under 25-year PPA. Required investment for the plant is estimated at $68.7 million and is being funded via 76:24 debt to equity. Lenders are IFC with $14.25 million from its own account and syndicated $38.25 million. The Asia Infrastructure Investment Bank will lend $13.25 million, AfDB will provide $13 million and CDC- $12 million. Financing closed on October 29, 2017. https://ijglobal.com/data/transaction/36059/alcazar-energy-solar-pv-plant-50mw