Red Sea Solarize
Sector: Water Supply and Storage • Location: Drava, Egypt, Arab Rep.
Source: World Bank Group
Red Sea Solarize is is 5 MW solar power plant located in the Red Sea province, Egypt. The project is initiated as part of the first phase of renewable energy purchase tariff projects.
The venture will be undertaken via Soltag Co., which is a wholly owned subsidiary of Solarize Egypt, for renewable energy projects.
The generated power will be sold to Canal Company for Electricity Distribution. Un
- Status
- Prospective
- Sector
- Water Supply and Storage, Power Generation (CCGT), Solar, Government
- Location
- Drava, Egypt
- Updated
- 22 Jul 2026
- Source
- World Bank Group
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Project Information
Participants
Sponsoring Agency |
Status
Original status | Active |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Red Sea Solarize is is 5 MW solar power plant located in the Red Sea province, Egypt. The project is initiated as part of the first phase of renewable energy purchase tariff projects. The venture will be undertaken via Soltag Co., which is a wholly owned subsidiary of Solarize Egypt, for renewable energy projects. The generated power will be sold to Canal Company for Electricity Distribution. Under the first phase of solar feed-in tariff projects, sponsors shall secure 85 per cent of finance from foreign banks and 15 per cent from local banks. Project achieved financial closure in October, 2016 by tying up funds amounting $6 million. No other details are available on fund providers. http://en.almalnews.com/Pages/StoryDetails.aspx?ID=4926#.WNUcI1V96Uk |
Original sector | Energy |
Budget |
Location
Country | Egypt |
State | Drava |
Source
Source | World Bank Group |
URL |
More Details
Record type | Project |
Sector | Water Supply and Storage, Power Generation (CCGT), Solar, Government |
Article published date | 2024-05-29 |
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