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Egypt: 225MW of renewable energy financed by Proparco
Proparco participates in the financing of the construction and operation of 5 solar photovoltaic power plants delivering a total of 225MW of capacity for a total amount of €116 million. Through these operations, Proparco will contribute to prevent the emission of more than 3.8 million tons of CO2 and to the creation of more than 7,000 direct and indirect jobs.
Proparco was the first development institution to finance the Benban solar program in Upper Egypt along with the European Bank for Reconstruction and Development (EBRD). With a planned capacity of 1.8 GW, Benban is the largest solar complex to be built in the world. It is also the first Egyptian feed-in tarriff scheme.
Proparco has worked with French investors EDF Energies Nouvelles, Access Power, EREN Renewable Energy SA et Voltalia, as well as with the Egyptian company ELSEWEDY ELECTRIC, thus contributing to further develop technical cooperation between France and Egypt.
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