The European Bank for Reconstruction and Development (EBRD) plans to fund a 200 MW solar project in Kom Ombo, Egypt.
The European financial institution would provide a senior debt financing of US$40m, in addition to an equity loan of up US$14m. The project, which is developed by Saudi Arabia-based ACWA Power, would require a US$155.4m investment.
In August 2020, the EBRD approved a loan of US$50m to fund the construction of a 500 MW wind power project in the Gulf of Suez, approximately 40 km of Ras Ghareb in Egypt. The project, which requires a US$560m investment, is developed by a consortium made of Engie (35%), a consortium of Toyota Tsusho Corporation and Eurus Energy Holdings Corporation Consortium (holding collectively 40%) and Orascom Construction (25%).