- The European Bank for Reconstruction and Development (EBRD) will provide a $4.2m loan for the development of a solar PV power plant to supply energy to Dina Farms in Egypt.
- The project will be implemented by Taqa PV and will support Egypt’s renewable energy transition efforts.
- The project will be sited on the 10000 hectares DIna farms and will produce 6MW of power a fraction of the power needed by the farm.
A 6MW solar PV plant will soon power Dina’s dairy farm. The project will e developed by Taqa PV for Solar Energy. Financing for the project is being provided by the European Bank for Reconstruction and Development (EBRD) via a $4.2 million loan.
Dina’s dairy farm is a 10,000-hectare facility located about 80knm from Cairo is one of Africa’s largest dairy production facilities providing agricultural, livestock breeding, dairy product manufacturing and an agricultural retail shop services.
Taqa will sell the power generated under a power purchase agreement (PPA). The plant represents ERBD’s first foray into private-to-private renewable energy project – energy supply from private producer to a private buyer via PPA – development in Egypt.
The Egyptian government intends to generate 20% of the country’s power supply from renewable sources by 2022 and 42% by 2035.