SPREF - Global Energy (TAQA PV) (EBRD-51038)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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.
Voting Date
Dec 18, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Global for Energy SAE
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 4.50 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)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 2, 2020

Disclosed by Bank Dec 18, 2019


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Project Description

According to bank documents, the project involves construction and operation of a 6MWp ground-mounted solar PV power plant located at a dairy farm owned by Dina Farms SAE in the Beheira governorate.

The project will sell 100% of its electrical output to Dina Farms under a 25-year Power Purchase Agreement between Dina Farms and TAQA PV for Solar Energy SAE.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Global for Energy SAE is an established private Egyptian electricity generation and distribution company owned by TAQA Arabia SAE. TAQA PV for Solar Energy SAE is a project company also owned by TAQA Arabia for the purpose of developing TAQA Arabia's private-to-private renewable energy business.

Contact Information

Global Energy
info@taqa.com.eg
+20 2796 1494 / 2795 4671
+2 2796 2821
www.taqa.com.eg

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.