Arinna Benban Solar Plant

active

The project entails the construction, development and operation of a solar farm near Benban, Aswan Governorate of Upper Egypt. The total capacity is 20 MW. ARINNA SOLAR POWER S.A.E is the project company which will undertake the project on behalf of the sponsors. The project is majority owned (51%) by Albilal Group, Maccaferri Industrial Group at 25%, Desert Technologies at 15% and two other small investors each holding 4.5% - Croton Harmon and Texas Constructors International. This is a greenfield project initiated on a BOO modality. The Egyptian Electricity and Transmission Company will offtake all electricity from the project under 25-year power purchase agreements. Investment in the farm was estimated at $28.8 million, being funded via debt and equity - $23.45 million and $5.35 million, respectively. IFC provided $7.85 million from its own account and syndicated the remaining $15.6 million to Europe Arab Bank ($6 million), CDC Group ($3.6 million) and Asian Infrastructure Investment Bank ($6 million). Project financing closed on October 29th, 2017. The remaining was equity financed ($5.35 million) https://ijglobal.com/data/transaction/38219/arinna-benban-solar-pv-plant-20mw Albilal Group for General Contracts holds 51%; Maccaferri Industrial Group holds 25%; To be added to sponsors' list