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