Kom Ombo Solar PV Plant

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The financing will be used for the construction of the Kom Ombo solar project. The plant will be located at Kom Ombo in the Aswan Governate in Egypt. The Kom Ombo solar development was initially envisioned as 10 solar projects, each of 20MW capacity, before being tendered in May 2016 as a single 200MW project. ACWA Power was selected a preferred bidder to build, own and operate the solar plant. Total project cost is 154.1 USDm and it was provided by a group of lenders. European Bank for Reconstruction and Development (EBRD) – $36 million Green Climate Fund (GCF) – $23.8 million Arab Bank – $18 million OPEC Fund – $18 million African Development Bank (AfDB) – $17.8 million Financial Closure was achieved in April 2021. Kom Ombo will benefit from a 20-year power purchasing agreement with EETC. It is expected to begin commercial operations in Q3 2022. The government is aiming to increase the share of renewables in the Egyptian energy mix to 22% by 2022 and 42% by 2035. https://ijglobal.com/articles/155124/kom-ombo-solar-pv-egypt https://ijglobal.com/data/transaction/42751?name=Kom%20Ombo%20Solar%20PV%20Plant%20(200MW)&link=%2Farticles%2F155124%2Fkom-ombo-solar-pv-egypt