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).
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.
ETI score: 80
Green: 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.
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
Total Project Cost
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 and 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
+20 2796 1494 / 2795 4671
+2 2796 2821
PSD last updated
18 Dec 2019
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Project Complaint Mechanism (PCM)
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