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Reading: EBRD grants $14m equity loan, co-finances $40m for Egypt’s Kom Ombo solar plant
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Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
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Dailynewsegypt > Blog > Business > EBRD grants $14m equity loan, co-finances $40m for Egypt’s Kom Ombo solar plant
Business

EBRD grants $14m equity loan, co-finances $40m for Egypt’s Kom Ombo solar plant

Nehal Samir
Last updated: 2020/08/29 at 10:41 PM
By Nehal Samir 2 Min Read
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EBRD to invest EGP 1.5bn in NUCA bond issuance Daily News Egypt
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The European Bank for Reconstruction and Development (EBRD) has granted about $54m in financing for the construction and development of a 200 MW solar PV project located in Egypt’s Kom Ombo area.

The financing will be provided as senior debt financing of up to $40m, co-financed with other parties, in addition to an equity bridge loan of up to $14m, the EBRD said. The project at Kom Ombo set to cost a total of $155.4m.

The project will be one of the largest privately developed utility scale solar plants in Egypt, and will support the country in increasing its renewable energy capacity, according to the bank.

The project will further promote private sector participation in Egypt’s power sector, whilst increasing the share of renewable energy in the country’s energy mix, in line with the nationally declared targets.

The environmental characteristics of Egypt’s power sector are expected to further improve through the project, as emissions of local pollutants and carbon dioxide are set to be reduced. It is also expected to have a significant effect on reducing the country’s water consumption.

The project will contribute to Egypt’s green transition, by adding 200 MW of new renewable energy to the national electricity grid capacity. It will also help in demonstrating a new business model for the provision of solar energy through a public tendering process. It is projected to achieve a competitive tariff, and promote the growth of solar energy as an affordable alternative to conventional energy sources.

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TAGGED: EBRD, Kom Ombo, Loan, solar plant
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Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
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