According to bank documents, ib vogt GmbH , is seeking MIGA coverage of the commercial debt tranche on a solar photovoltaic (PV) plant developed by the company MMID 30 MW for Renewable Energy S.A.E (MMID 30). MMID 30 is a Special Purpose Vehicle (SPV) company owned by a consortium constituted of Infinity Solar Energy SAE and ib vogt (the sponsors). The sponsors will be responsible for managing construction and operational aspects of a 30 Mega Watts alternative current (MWAC) solar PV plant located in the Benban solar complex in the Aswan Province of Egypt. ib vogt was selected as the Engineering Procurement and Construction (EPC) and Operations and Maintenance (O&M) contractor for the project.
The project forms part of the Egyptian government's feed-in-tariff (FiT) scheme aimed at diversifying and securing Egypt's electricity supply. The European Bank for Reconstruction and Development (EBRD) is also providing long term senior debt financing to the project.
In addition to MMID 30, ib vogt is seeking MIGA coverage of the commercial debt tranche on two additional solar plants: Taqa 50; and Phoenix Power 1, which is also seeking International Finance Cooperation (IFC) finance. All three projects are within the Benban solar complex and each is covered under a separate ESRS.
MMID 30 is a Special Purpose Vehicle (SPV) company owned by a consortium constituted of Infinity Solar Energy SAE and ib vogt (the sponsors).
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||ib vogt GmbH||Investor||-|
|-||-||-||-||ib vogt GmbH||Contractor||-|
|-||-||-||-||Infinity Solar Energy SAE||Investor||-|
ACCOUNTABILITY MECHANISM OF MIGA
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