Egyptian solar set to expand beyond the massive 1.8 GW Benban PV project
In this edition of the Weekend Read, we turn to Egypt. The gigawatt-scale Benban project showcases the North African country’s solar potential, and premium prices for gas exports make the case for a more diverse energy mix. A nation with grand renewables targets – but slow installation rates – may finally be weaning itself off fossil fuel resources.
Benban developers agree to pay an extra $102m for building materials
Half of the EGP1.6 billion charge will be paid up front with the balance staggered over five years, pv magazine has learned.
Benban developers on brink of settling reported $102m cost-sharing deal
Sources connected to developers at the site confirm the figure has been agreed with the Egyptian Electricity Transmission Company but said it was still subject to change. The utility is seeking raised contributions from renewables companies to cover what it says were rises in building material costs.
Solar is gaining traction in MENA region – but plenty of obstacles remain
Solar deployment continued to pick up in the Middle East and North Africa in 2019, the Middle East Solar Industry Association has said in its annual report.
EBRD to lend €183m to help Egypt connect 1.3 GW of renewables
The European Bank for Reconstruction and Development is offering the funds to Egypt’s transmission system operator to strengthen the country’s grid to host more renewable energy in anticipation of rising power demand over the coming decade.
EDF invests in Egyptian renewables developer KarmSolar
The French energy group has injected an unspecified sum into KarmSolar, which has a 165 MW solar project portfolio in Egypt. The developer specializes in power purchase agreements and solar distribution contracts with large commercial, agricultural and industrial clients.
Scatec Solar connects another batch of bifacial tracking capacity in Egypt’s Benban complex
Boasting 195 MW of bifacial-and-tracking capacity, Scatec Solar is halfway to its planned 400 MW target for the technology combination at the 1.8 GW Benban park. The remainder is likely to come online this year.
Developers in the dark over reported 25% hike in Benban investment costs
The association that represents developers operating at the 1,465 MW solar project in Egypt – due for completion in June – say they have been told nothing about a rumored rise in investment costs caused by more expensive construction materials.
First EBRD-financed slice of Benban project comes online
The 30 MW plant was developed by a consortium led by Infinity Solar Energy SAE – an Egyptian developer operating in Africa and the Middle East – with Germay’s ib vogt, investment vehicle MMID and private equity firm BPE Partners.
Suntech to supply 304 MW of modules to Voltalia
The news comes after Suntech recently announced a separate 116 MW module supply deal, with both orders related to Egypt’s mega Benban complex
