Latest Breaking News On - Eastern mediterranean private renewable energy framework - Page 1 : comparemela.com

Advertisement The European Bank for Reconstruction and Development (EBRD) is promoting the expansion of renewable energy in Egypt by supporting one of the first green private-to-private projects in the country, with an initial US$4.2 million loan to TAQA PV for Solar Energy, TAQA Arabia’s renewable energy subsidiary. The loan is part of a financing package of up to US$10 million to expand TAQA Arabia’s private-to-private renewable energy business. The EBRD funds will finance the construction and operation of a 6 MWp solar photovoltaic (PV) power plant located at Dina Farms in the Beheira governorate, 80 km from the Egyptian capital, Cairo. This PV power plant will enable Dina Farms, one of the largest dairy farms in Africa, to cover part of its energy consumption with clean energy. TAQA PV for Solar Energy will sell all of its generated energy to Dina Farms under a 25-year power purchase agreement (PPA).

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