UK's Globeleq acquires Egyptian solar plant in Benban

The solar plant has been operational since November 2019

A field of solar panels is seen near Royston, Britain, April 26, 2021.

A field of solar panels is seen near Royston, Britain, April 26, 2021.

Reuters/Matthew Childs

Cairo: The British independent power producer Globeleq has acquired ARC for Renewable Energy (ARC) 66-MWp solar PV plant at the Benban Solar Park near Aswan, Egypt.

The project was developed by the SECI Energia, Enerray, and Desert Technologies consortium as part of the second round of the Egyptian government's feed-in-tariff (FiT) programme, according to a statement on Thursday.

The solar plant, which has been operational since November 2019, provides clean electricity to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement (PPA).

It was financed by the International Finance Corporation (IFC), Globeleq's shareholder CDC Group (CDC), the Asian Infrastructure Investment Bank, Europe Arab Bank, and Finance in Motion.

Globeleq will provide ARC with asset management services and supervise the project's operation and maintenance contractor, GILA Al Tawakol.

ARC will be linked to Globeleq's remote monitoring centre located in Cape Town, South Africa.

Source: Mubasher

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