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panneaux solaires
PROPARCO is supporting the construction of a 25 MW solar power plant as part of a solar power complex being developed in Benban, in the Aswan region. This projet is part of Egypt's guaranteed feed-in tariff (FiT) program.
Client presentation

RaSolar is an SPV sponsored by Voltalia Group (France).

Project description

RaSolar is a project to build and operate a 25 MW solar power plant under the XXL program in Benban (total maximum capacity of 1.8 GW), in southern Egypt. The project will benefit from a 25-year power purchase agreement (PPA) and a feed-in tariff of US$c 7.12/kWh by the distribution company EETC (Egyptian Electricity Transmission Company). The project is being financed 75:25 in debt and equity. PROPARCO’s contribution benefits from a 50% subparticipation from ICCF.

Project impact

The power plant will produce 68.6 GWh of low-carbon electricity a year. It will reduce CO2 emissions by 29,000 tons every year. The project will improve the quality and security of electricity supply in the country.  Finally, the project will help create or maintain some 1,300 jobs across Egypt's economy as a whole and should contribute EUR 17m to national GDP during the project life cycle.

19/10/2017
Date of signature of the project
Financing tool
21 381 605 Euros
Amount of funding
Total loan of USD 24,887,119, including a 50% ICCF (Interact Climate Change Facility) subparticipation
Financing details
RASOLAR
Client
CES