A solar revolution in Egypt and Jordan

Under the EBRD’s US$ 500 million framework for renewable energy in Egypt, the EBRD is financing 16 new solar power plants, making it the single largest investor in renewable energy in the country.

The 16 new plants are all located on a solar site near the village of Benban in Upper Egyptopens in a new tab, the largest solar site in Africa. The new plants will have 750 MW of solar capacity and are expected to reduce carbon dioxide emissions by 900,000 tonnes a year.

The Bank is also providing a US$ 52 million loan for the construction and operation of a 45 MW wind farm in the Shobak region, 160 km south of Amman in Jordanopens in a new tab.

To date, the EBRD has invested more than €3.7 billion directly in renewable energy, supporting 111 projects in 23 countries and funding more than 5.7 GW of capacity.

The project is supported by the Green Climate Fundopens in a new tab, the SEMED MDA (Australiaopens in a new tab, Finlandopens in a new tab, Franceopens in a new tab, Germanyopens in a new tab, Italyopens in a new tab, the Netherlandsopens in a new tab, Norwayopens in a new tab, Swedenopens in a new tab, Taipei Chinaopens in a new tab and the United Kingdomopens in a new tab) and the European Unionopens in a new tab.