Infinity Solar Portfolio

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The project envisages the construction and operation of two solar PV plants of 30 MW and 50 MW capacity located in Ben Ban, Aswan governorate in Upper Egypt. Infinity for Solar Energy and IB Vogt are developing the projects. The plants are being procured under the country’s feed in tariff (FIT) round two program. This is a greenfield project initiated on a BOO basis with a predetermined tariff rate. Egypt’s Electricity and Transmission Company will purchase power from the projects under 25-year power purchase agreements. Total investment for the two farms is estimated at $115.7 million and is being funded through 75:25 debt to equity. Financial close took place on October 26th, 2017. Lenders to the project are EBRD ($44 mn), FMO ($29 mn) and Green Climate Fund (GCF) ($14 mn). The EBRD syndicated the$14 million to Green Climate Fund (GCF). The remaining cost is covered by equity contributions from the sponsors ($28.7 million in total). https://ijglobal.com/data/transaction/38190/infinity-solar-pv-portfolio-80mw ib vogt to be added to sponsors' list.