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
Avda. de Europa, 10. Parque Empresarial La Moraleja
28108 Alcobendas (MADRID). Spain
Point of Contact: Mr. Iheb Triki
Title: Vice President
Telephone Number: +216 70 015 400
Immeuble Lira, rue de La Bourse
Les Jardins du Lac
1053 Tunis, Tunisia
Tel: +216 70 015 400
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
AIIB OVERSIGHT MECHANISM
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.