London-based bank backs renewable energy in Egypt with $4.2m loan
It will finance the construction of a solar power plant, with a capacity of 6MW, at Dina Farms
Image: EBRD
The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of renewable energy in Egypt with an initial loan worth $4.2 million (£3m).
TAQA PV for Solar Energy, TAQA Arabia’s renewable energy subsidiary, will use the money for one of the first green private-to-private projects in Egypt.
The first tranche of the loan will finance the construction of a solar power plant, with a capacity of 6MW, at Dina Farms in the Beheira governorate, 80 kilometres from the capital city of Cairo.