Benban Solar PV Plant

Active

The project involves the construction and operation of a 64 MW solar PV plant in Benban, Aswan. It originated within the framework of Egypt's solar feed - in tariff (FIT). According to Egypt Renewable Energy law, projects under the FIT scheme will be executed on a Build Own and Operate basis by private investors. Infinity Solar is a majority holder in the project with 52 per cent. The remaining 48% was shared in undisclosed amounts between German firms IB Vogt and Solizer. The project cost is around $100 million and is financed with an 85 per cent debt and 15 per cent equity. Bayern LB provided around $72.25 million in US dollar-denominated debt. The German credit export agency Euler Hermes insured Bayern's tranche. The Arab African Investment Bank provided $12.75 million in debt, denominated in Egyptian pounds. Power from the project will be purchased by the Egyptian Electricity Transmission Company under a 25-year power purchase agreement signed on 26 October 2016. Financial closure was achieved on November, 10 2016. https://ijglobal.com/data/transaction/36968/benban-solar-pv-plant-50mw https://www.pv-magazine.com/2017/03/09/infinity-solar-ib-vogt-and-solizer-plan-64-mw-pv-plant-in-egypt/