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Wednesday, 11 July 2018

IFC, EBRD commitment to renewables in Egypt has attracted investors, funds to the sector

MUST READ for renewable energy folks: IFC, EBRD commitment to renewables in Egypt has attracted investors, funds to the sector -Report: The commitment that lending institutions such as the International Finance Corporation and European Bank for Reconstruction and Development have shown to Egypt’s renewable energy projects has helped attract much needed funds into the sector, according to a report by Arab Petroleum Investments Corporation (APICORP). The report says that a shortage is the reason why “solar projects have been slow to progress in Egypt,” but notes that the pace should pick up with the development of the 1.8 GW solar power complex in Benban, Aswan. APICORP expects international lenders to “continue to support the deployment of renewables in the region as they prioritise green energy in an effort to address climate concerns.” You can read the full report here (pdf).

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