SPREF - Global Energy (TAQA PV)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Construction and operation of a 6MWp ground-mounted solar PV power plant located at a dairy farm owned by Dina Farms SAE (Dina Farms) in the Beheira governorate (the project).

The project will sell 100% of its electrical output to Dina Farms under a 25-year Power Purchase Agreement between Dina Farms and TAQA PV for Solar Energy SAE (TAQA PV).

Project ID 51038

Status Repaying

Location

Egypt

Business Sector

Energy

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Global Energy
info@taqa.com.eg
+20 2796 1494 / 2795 4671
+2 2796 2821
www.taqa.com.eg

Project ID 51038

Status Repaying

Location

Egypt

Business Sector

Energy

Notice Type

Private

Approval Date

17 Dec 2019

Disclosure date

18 Dec 2019

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project description

Construction and operation of a 6MWp ground-mounted solar PV power plant located at a dairy farm owned by Dina Farms SAE (Dina Farms) in the Beheira governorate (the project).

The project will sell 100% of its electrical output to Dina Farms under a 25-year Power Purchase Agreement between Dina Farms and TAQA PV for Solar Energy SAE (TAQA PV).

Project objectives

The project supports the efforts to scale up renewable energy penetration in Egypt's energy mix and liberalisation of the electricity sector by expanding the private-to private renewable energy segment.

Transition impact

ETI Score:80

n: The project involves a solar PV plant of 6 MWp capacity and is expected to result in annual CO2 savings of 3,684 tonnes per year.

Competitive: The project will be developed and operated under private ownership and is one of the first larger scale private-to-private renewable projects involving direct electricity supply from a privately owned generator to the private offtaker.

Client information

GLOBAL ENERGY SAE

Global for Energy SAE (Global Energy) is an established private Egyptian electricity generation and distribution company owned by TAQA Arabia SAE (TAQA Arabia). TAQA PV for Solar Energy SAE (TAQA PV) is a project company also owned by TAQA Arabia for the purpose of developing TAQA Arabia's private-to-private renewable energy business.

EBRD Finance Summary

USD 4,500,000.00

Total project cost

USD 5,000,000.00

Additionality

Financing structure - USD financing from commercial banks is limited in Egypt and EBRD offers financing that is not available in the market from commercial sources on reasonable terms and conditions.

Environmental & Social Summary

Categorised B (ESP 2014). An independent Environmental and Social Due Diligence (ESDD) has confirmed that the environmental and social issues associated with the construction of the 5MW solar power plant are site specific and readily mitigated. ESDD confirmed that the Company has the capacity to implement the Bank's Performance Requirements (PRs) and that the technology is in line with good international practice. The site is not located close to any areas associated with environmental or social sensitivities. An Environmental and Social Action Plan (ESAP) has been developed to structure the project to meet the Bank's PRs. The Project is in line with the GET approach, with a GET share of 100%.

The Project is not located near to sensitive receptors or protected areas and will have a minimal impact on biodiversity and natural resources use. An Environmental and Social Impact Assessment is currently being developed to meet the local Egyptian requirements. Global Energy has a documented integrated management system meeting the requirements of ISO 14001 (environmental management system) and OHSAS 18001 (health and safety management system). ESDD included a high-level review of the off-taker's Environmental and Social performance, and confirmed that Dina Farms is in check with national law and there have been no E&S red flags reported. A stakeholder engagement plan will be prepared and implemented to ensure internal and external stakeholders have been identified, relevant information is adequately shared with them and their concerns taken into consideration during Project implementation.

The ESAP has been developed and agreed with the Client to further align the Project with EBRD's ESP. Items in the ESAP include: enhancing the current EHSS Management plans, developing a contractor and supplier management plan, developing and implementing an accommodation plan in line with EBRD's requirements, updating the grievance mechanism procedures, prioritising local employment, developing an SEP, etc.

The Bank will monitor the E&S performance of the Project and the implementation of the ESAP regularly. A Non Technical Summary (NTS) is available for the Project and can be downloaded below.

Technical Cooperation and Grant Financing

The EBRD loan is accompanied by concessional funding of up to USD 500,000, provided by the Green Environment Facility and secured under the SPREF framework.

Company Contact Information

Global Energy
info@taqa.com.eg
+20 2796 1494 / 2795 4671
+2 2796 2821
www.taqa.com.eg

PSD last updated

18 Dec 2019

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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SPREF - Global Energy (TAQA PV)

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)