ACWA Benban One for Energy JSC (MIGA-13952)

  • Egypt
Where the impacts of the investment may be experienced.
Specific Location
Aswan Province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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
Sep 20, 2017
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.
ACWA Power
The holder of the loan, grant, or other investment.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 57.76 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 19, 2021

Disclosed by Bank Aug 1, 2017

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Project Description

According to bank documents, International Company for Water and Power Projects (ACWA Power) is seeking MIGA coverage of the commercial debt tranche for ACWA Benban One for Energy (ABOE). ABOE is a Special Purpose Vehicle (SPV) company to be indirectly owned by ACWA Power, Al Tawakol Electrical Co. incorporated in Egypt (Al Tawakol), and Hassan Allam Holding incorporated in Egypt (Hassan Allam). ABOE will be responsible for managing construction and operational aspects for the Project. ABOE's project, hereafter referred to as the 'project', comprises a 50 Mega Watts alternative current (MWAC) solar PV plant located in the Benban solar complex in the Aswan Province of Egypt. The project forms part of the Egyptian government 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 the ABOE project, ACWA Power is seeking MIGA coverage of the commercial debt tranche on two other projects within the Benban solar complex: TK for Solar and Renewable Energy Systems, and Alcom Energy. Individual ESRSs have been prepared for each project.

The project is allocated to plot 43-4 (approximately 86 hectares (Ha)) in the Benban solar complex. The project will have alternating current capacity of 50 MWAC and peak direct current capacity of 67.5 MWDCP, and will be linked to substation 4 (SS4) on the southeastern corner of the Benban complex via an underground 22 kilovolt (kV) transmission line following the internal routes right-of-way (RoW) installed by EETC. SS4 covers an area of 50 km2.

Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ACWA Power Investor -
- - - - Al Tawakol Electrical Co. Investor -
- - - - Hassan Allam Holding Inc. Investor -

Contact Information

*Contact information not provided at the time of disclosure*


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