Download logo The Sustainable Energy Fund for Africa (SEFA) has extended a $1 million grant to help accelerate African countries’ transition to flexible green
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The Sustainable Energy Fund for Africa (SEFA) has extended a $1 million grant to help accelerate African countriesâ transition to flexible green grids and other clean power solutions ahead of the 2021 United Nations Climate Change Conference, COP26, scheduled to be held later this year.
The technical assistance grant, sourced through a SEFA Rapid Response Facility, will enable up to five African countries participating in a COP26 Energy Transition Council process to assess potential gaps in policy, regulatory and institutional frameworks; develop approaches to increase the contribution of grid-connected renewable energy generation; as well as identify financing mechanisms.
African Development Bank approves $27 million loan to Egypt for solar plant
The project is expected to lower electricity costs for businesses and residences in Egypt, as well as reducing greenhouse gas emissions and creating construction and other jobs.
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African Development Bank’s Board of Directors today approved $27.2 million in loan financing for the design, construction and operation of a 200 MW photovoltaic solar power plant at Kom Ombo, in Upper Egypt on the river Nile.
The project is expected to lower electricity costs for businesses and residences, as well as reducing greenhouse gas emissions and creating construction and other jobs.
The African Development Bank’s Board of Directors (www.AfDB.org) today approved $27.2 million in loan financing for the design, construction and operation of a 200 MW photovoltaic solar power plant at Kom Ombo, in Upper Egypt on the river Nile.
The project is expected to lower electricity costs for businesses and residences, as well as reducing greenhouse gas emissions and creating construction and other jobs.
The project’s total cost is estimated at $156.4 million. In addition to the Bank’s financing, structured as a senior loan, the European Bank for Reconstruction and Development, the Green Climate Fund (GCF), Arab Bank and the OPEC Fund for International Development will contribute funding. The plant, 800 km south of Cairo, is owned by ACWA Power, a leading Saudi Arabian developer, investor and operator of power generation and desalinated-water plants worldwide.
Egypt: the African Development Bank approves a loan of over $27 million to establish Kom Ombo solar power plant africanews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from africanews.com Daily Mail and Mail on Sunday newspapers.