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The Egyptian government has approved Belectric’s plan to build a 50 MWp solar power plant
- Belectric intends to sell the power generated to the Egyptian Electricity Transmission Company’s (EETC) under a 25-year power purchase agreement (PPA).
- The Zaafarana solar power plant will also be supported by Norfund, the AfDB, and the EBRD.
The Egyptian government has approved German company Belectric’s plan to build a 50 MWp solar power plant in Zaafarana. The plan is expected to be commissioned in 2022 and will require €38 million. The Kreditanstalt für Wiederaufbau (KfW), the German development agency, has agreed to provide a soft loan to Belectric for the project development.
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The Zaafarana solar photovoltaic project was initiated by the New and Renewable Energy Authority (NREA) and is developing it alongside Scatec, a Norwegian independent power producer (IPP). The Egyptian Ministry of Electricity has stated the Zaafarana solar park will produce 90,000 MWh of electricity yearly and employ 50 people. Belectric intends to sell the power generated to the Egyptian Electricity Transmission Company’s (EETC) under a 25-year power purchase agreement (PPA).
The Zaafarana solar power plant will also be supported by Norfund – the Norwegian government’s private equity company, the African Development Bank’s Africa50 investment platform and the European Bank for Reconstruction and Development (EBRD)
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