Financing secured for solar projects in Egypt

European photovoltaic (PV) specialist Scatec Solar announced that it had secured financing of $335-million to fund its portion of the development of six 400 MW utility scale PV power plants which will be located in the Benban solar park in the City of Aswan in Egypt. The company secured funding from a consortium comprising the European Bank for Reconstruction and Development (EBRD), the United Nations' Green Climate Fund (GCF), the Dutch development bank FMO, the Islamic Development Bank (IsDB) and the Islamic Corporation for the Development of the Private Sector (ICD).