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Monday, 4 February 2019

Infinity Solar’s 1,400 MW projects, Egypt’s NREA reviews three tender bids

INVESTMENT WATCH- Infinity Solar in talks with int’l banks for funding for 1,400 MW projects: Renewable energy player Infinity Solar is in negotiations with two international banks for up to USD 1.2 bn financing for projects with a total generation capacity of 1,400 MW, a company exec told Al Mal. The executive did not name the banks, but said Infinity is looking about 1,000 MW of wind power projects and 400 MW of solar projects. The company filed for land in the Gulf of Suez and Minya from the New and Renewable Energy Authority (NREA) for the projects.

Also on the renewables front: NREA began yesterday looking into financial offers submitted by Siemens Gamesa, Danish wind turbine manufacturer Vestas, and German wind energy solutions Senvion for a EUR 260 mn, 250 MW wind farm in the Gulf of Suez, unnamed officials told Al Mal. The three companies qualified for the tender in October of last year.

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