Egypt Round II Solar PV Feed-in Tariffs Program (the Project) consists of 11 photovoltaic solar power plants (the Sub-projects), 9 x 50MWac and 2 x 20MWac, all to be located in the Benban Solar Park near Aswan, with an aggregate power generation capacity of 490MWac. The solar power plants will be developed by different Sponsors and all output generated will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement.
This project entails the development, financing, construction, testing, commissioning, operation and maintenance of a 50MWac solar PV power plant located in Benban Solar Park. All output generated by the Project will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement.
This project will apply the IFC’s Policy on Environmental and Social Sustainability, including the relevant Performance Standards.
Working as the core lender with co-financiers in a syndicate, the Bank may provide up to US$210 million long-term debt financing on a limited-recourse senior secured project finance basis allocated to all eleven solar power plants.
The Project is being developed by Enara SunEdison S.A.E. (the Borrower), a special purpose vehicle owned by a joint venture between Acciona Energía Global (38%), Enara Bahrain (38%) (consisting of Swicorp, KCC Corporation and the Shoaibi Holdings) and TBEA Xinjiang SunOasis (24%), collectively, the Sponsors.
Asian Infrastructure Investment Bank (AIIB):
Ms. Carmen de Castro
Project Team Leader / Investment Operations Specialist
Company: Acciona Energía
Point of Contact: Mr. Juan Cruz Mendezona
Title: Financing Director
Telephone Number: + 34 916 576 461
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Point of Contact: Mr. Iheb Triki
Title: Vice President
Telephone Number: +216 70 015 400
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Tel: +216 70 015 400
General IFC Inquiries
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AIIB OVERSIGHT MECHANISM
In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB’s policies, “people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank’s oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism.” However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.