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Wednesday, 21 March 2018

Benban keeps rolling on, with three foreign companies looking to begin construction

Benban keeps rolling on, with three foreign companies looking to begin construction: Spain’s Acciona and Saudi Arabia’s Swicorp have begun construction on three large-scale PV power plants with a combined capacity of 186 MW in Aswan’s USD 2.8 bn Benban solar park, according to PV Magazine. With USD 180 mn investments, the two companies will own 50% of the projects, which are being developed under phase II of Egypt’s feed-in tariff program.

Meanwhile, Enerray SpA is also constructing three ground-mounted photovoltaic solar power plants in Benban with a combined production capacity of 116 MW, the company announced. Construction on the plants is scheduled to begin next month. The company did not disclose the expected cost of the plants, which will be co-financed through the International Finance Corporation, the Asian Infrastructure Investment Bank, the Europe Arab Bank, and the Green for Growth Fund. Enerray has reached a 25-year PPA with the Egyptian Electricity Transmission Company “at an effective feed in tariff of USD 71/MHw.” The first solar facility in Benban was inaugurated last week with a capacity of 50 MW. Upon completion next year.

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