SECI Benban 2 Arinna (IFC-40019)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
ARINNA SOLAR POWER S.A.E
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 12.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 48.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 14, 2017

Disclosed by Bank Jun 14, 2017


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Project Description
The project will be located within Egypt’s New and Renewable Energy Agency (NREA)’s 37.5 km2 Benban 1.8 GW PV solar park comprising 39 separate PV plots, situated 12 km east of the nearest village (Benban), and 15 km west of the Nile River. It is close to the Luxor-Aswan road, 40 km northwest of Aswan city, in the Aswan Governorate of Upper Egypt. The project capacity is approximately 28.01MWp (DC) for a 22MWp inverter nominal power (AC) and occupies a 0.46 km² plot (1-1)in the Benban PV solar park. The Benban PV solar park is being constructed on open desert land that is owned by NREA. All of the 39 PV development sites are greenfield, and none have begun construction. One project has started preliminary works and constructed some basic facilities on the site including office, dispensary, workers resting area, and installed underground septic tanks, none of which are yet operational. The area is mainly flat, with sand and gravel dunes, and with no notable natural vegetation and no human activities. The project will be linked to substation 1 (SS1) on the northeastern corner of the Benban PV solar park, via an underground 22 kV transmission line installed by EETC. Substation 1 covers an area of 15,000 m2. An additional 180 km double circuit 500 kV transmission line will be constructed north of the site, to evacuate the energy from the solar park. This 500 kV line is considered an Associated Facility (AF) to the solar park, and EETC will be putting out a tender for an ESIA of this transmission line in May 2017. All output generated by the project will be sold to EETC under a 25-year Power Purchase Agreement (PPA). The project’s underground transmission line right-of-way will follow the route of the internal Benban PV solar park roads. The water necessary for the solar plants (predominantly to be used during construction and for PV panel cleaning during operations) is to be sourced from wells around the site. NREA is taking responsibility for commissioning the relevant studies of groundwater in the area and are liaising directly with the Ministry of Water Resources and Irrigation. Subject to the results of these studies, additional infrastructure may be required for the extraction and distribution of water within the Benban PV solar park. A Facility Manager Contractor (FMC) will lead and coordinate the water supply in collaboration with the developers on the site.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Contact: Sameh H Gemei,P.E. Company: Arinna Solar Power Address: 27 Abdel Hakim ElRefaai St Nasr City, Cairo, Egypt Email: Sameh.gemei@techpdgroup.com Phone: +201220000386 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/