SUBSCRIBE
PROFILE

Egypt: EBRD supports clean energy

In Egypt, the EBRD (European Bank for Reconstruction and Development) is providing $5.5 million to TAQA PV.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

In Egypt, the EBRD (European Bank for Reconstruction and Development) is providing $5.5 million to TAQA PV.

Financial support

In Egypt, the EBRD is extending its support to TAQA PV to encourage the expansion of renewable energy. The new funding will support the construction and operation of a solar photovoltaic project. It will be located in El Minya and will have a capacity of 7MWp.

The financing consists of a $4.95 million loan and a $550,000 concessional loan from the Global Environment Facility. TAQA PV will sell all the electricity produced to ASCOM Carbonate and Chemical Manufacturing. Thus, it is a private to private project, supported by the EBRD.

The EBRD was already delivering a $4.2 million loan in December 2020 in Egypt. It finances the construction and operation of a 6MWp solar photovoltaic plant. This power plant allows the largest dairy farm in Africa to ensure, in part, its energy consumption, thanks to clean energy.

A major player

The EBRD is a long-time player in Egypt. The bank already supports 154 projects for a total of €10.3 billion. Thus, by supporting the growth of renewable energy in Egypt, EBRD is contributing to the country’s transition.

The Egyptian government announces its goal of reaching 42% renewable energy by 2035. However, currently this figure is around 20%. However, in recent years, Egypt is diversifying and liberalizing the energy market.

The objective is to facilitate the private development of renewable energy. The TAQA PV project is part of the Southern and Eastern Mediterranean Private Renewable Energy Framework (SPREF). Thus, this EBRD-supported project is an important step in the liberalization of the electricity market in Egypt.

  • Popular on energynews.pro
India diversifies coking coal purchases, Australia retreats
Equinor, Shell and TotalEnergies launch the first subsea CO2 injection in Norway
Quebec allocates $1.5M to meet the demand for wind turbine technicians
Guidehouse forecasts $8.1 billion revenues for modular reactors by 2034
AMIGO LNG signs 15-year deal with Macquarie for 0.6 MTPA of LNG
Ascent Solar and Star Catcher combine technologies for space-based solar energy
Ascent Solar Technologies has signed an agreement with Star Catcher Industries to enhance in-orbit power generation by combining lightweight photovoltaic technology with wireless energy transmission.
NextWave equips 529 MW of Cenergy solar projects with its PVPulse platform
NextWave Energy Monitoring integrated 529 megawatts of Cenergy solar projects into its PVPulse platform, including the largest 300 MW photovoltaic plant equipped with its monitoring system.
African solar panel imports surge 60% in one year
Solar panel imports into Africa reached 15,032 MW in one year, setting a record and marking an expansion beyond South Africa, according to the energy research organisation Ember.
Ferrovial invests $355mn in 250 MW solar plant in Texas
Ferrovial will launch a 250 MW solar plant in Texas for $355mn, expanding its US energy portfolio and creating around 300 jobs during the construction phase.
Philippines connect their first 4.99 MW floating solar power plant
The 4.99 MW floating solar power plant in Cebu supplies the Carmen Copper mining site, covering about 10% of its energy needs, with connection to the national grid now effective.
Axian and Sika invest €45 million in four solar power plants in Benin
Four photovoltaic plants totaling 50 MW will be built in Benin by Axian Energy and Sika Capital to strengthen the share of renewables in the country’s energy mix.
Qair secures USD 5.7 million financing for floating solar plant in Seychelles
Developer Qair secures a loan from the Facility for Energy Inclusion to build a 5.8 MWp floating photovoltaic solar plant in Providence Lagoon, the first utility-scale project of its kind in Seychelles.
Shikun & Binui commissions a 71 MW solar power plant in Romania
Israeli group Shikun & Binui begins commercial operation of its first photovoltaic park in Romania, a 71 MW facility located in Satu Mare County.
Canadian Solar posts record margin despite quarterly net loss
Canadian Solar reported a gross margin of 29.8% in Q2 2025, exceeding expectations despite a net loss, amid delayed project sales and asset impairments.
OSW raises USD 5.5 million to support its global solar market expansion
Australian distributor OSW secures strategic funding to accelerate U.S. growth and deploy its digital solar project management platform.
Solar will dominate more than half of the new power capacity planned in the United States in 2025
According to the Energy Information Administration, solar will represent the leading source of new U.S. power capacity this year.
Onyx and Corvias Complete 13 MW Solar Project at Fort Polk Military Site
Two 13 MW solar facilities have been completed at the Fort Polk military site in Louisiana by Onyx Renewables and Corvias as part of a partnership to secure the site’s long-term energy supply.
Photon Energy Group posts 7.5% growth despite declining EBITDA
Photon Energy Group reports quarterly revenue growth driven by solar technology trading, while profitability falls due to a weaker capacity market.
RWE secures two solar projects in North Rhine-Westphalia through a federal tender
Two photovoltaic projects led by RWE were selected in a federal tender, with commissioning scheduled by the end of 2026, subject to permits.
Eskom Opens Access to 291 MW of Solar Power for Large South African Consumers
The public utility Eskom launches a tender to sell long-term solar electricity via PPAs, directly targeting industrial players amid continued pressure on national energy security.
Scatec reports a 51% increase in revenue in the second quarter of 2025
The Norwegian group Scatec strengthens its position in emerging markets with a marked increase in revenue and its portfolio of projects under construction.
Masdar completes financing for the 2 GW Al Sadawi solar project in Saudi Arabia
The consortium led by Masdar has secured approximately $1.1 billion in financing to build one of the world’s largest solar power plants in Saudi Arabia’s Eastern Province.
The EBRD grants USD 150 million to Enerjisa to strengthen the Turkish power grid
The European Bank for Reconstruction and Development is financing the modernization of Enerjisa Enerji’s electricity distribution network in the Toroslar region, affected by the 2023 earthquakes.
Vikram Solar secures a 250 MW order from Bondada Group in India
Vikram Solar will supply 250 MW of high-efficiency solar modules to the Bondada Group for a project in Maharashtra, with deployment scheduled to begin in fiscal year 2025–2026.
Meta partners with Central and Silicon Ranch for a 100 MW solar park
Meta secures its energy supply in South Carolina with a 100-megawatt solar project led by Silicon Ranch and Central Electric Power Cooperative. The site will support the group's future data center in Graniteville.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99