- The European Bank for Reconstruction and Development (EBRD) will contribute USD 100 million to Scatec Solar’s USD 340 million upcoming green bond issuance.
- The money will be used to re-finance Scatec’s solar plants in Benban, Egypt totalling 390MW.
- EBRD will also provide a USD 30 million standby liquidity facility for other investors participating in the sale.
- Scatec’s Benban plants were completed and connected to the national grid back in 2019. Read more
- In April 2020, Scatec secured guarantees with MIGA, a division of the World Bank Group for its Benban projects. Read more
EBRD support for a USD 340m green bond to refinance Scatec’s six plants at the Benban Solar Park in Upper Egypt marks the latest phase in the maturing of the solar PV complex where the authorities are already contemplating an extension which could add hundreds more megawatts of capacity.
Author: Bryan Groenendaal