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International Finance Corporation

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.

IFC anchors green bond for 5 GW of renewables in east Asia and Pacific

World Bank sister organization the IFC has made a $75 million commitment to a green bond recently issued by Philippines based developer AC Energy. Vietnam’s sub-standard financial sector performance has prompted the Asian Development Bank to suggest green bonds could best leverage the country’s renewable energy targets.

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Uzbekistan launches 100 MW solar tender for southwest

State-owned energy company Uzbekenergo has issued a request for pre-qualification for the projects, planned for the Navoiy region in southwestern Uzbekistan. The tender process is expected to be finalized by the end of June.

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Dubai funding commitments demonstrate rise of corporate solar

Two Emirati developers are celebrating landmark deals with a commercial and industrial focus as Yellow Door Energy secures $65 million to expand operations into new markets and Adenium – one of Yellow Door’s backers – prepares to operate the region’s first industrial self-consumption and net metering project.

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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.

64 MW project connected at Benban

Alcazar Energy has announced the start of commercial operation for a project at Benban, in Egypt. Alcazar says it is the first of more than 30 planned projects in the second round of the mammoth solar park to achieve grid connection, and one of four similar sized projects the company is working on at the site.

Ethiopia launches a tender for 800 MW of solar across four states

The nation’s Ministry of Finance is tendering six large-scale projects in Afar, Somali, Oromia and Tigray. The plants will be developed under a public-private partnership framework and their construction is expected to raise around $795 million.

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International investors provide $34 million for solar plant in Zambia

The Ngonye project proposed by Italian energy giant Enel Group and Zambia’s Industrial Development Corporation, will be financially underpinned by senior loans of up to $10 million from the International Finance Corporation, up to $12 million from IFC-Canada Climate Change Program and up to $11.75 million from the European Investment Bank.

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