{"id":16265,"date":"2017-10-30T07:23:16","date_gmt":"2017-10-29T20:53:16","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=16265"},"modified":"2017-10-30T07:23:16","modified_gmt":"2017-10-29T20:53:16","slug":"ifc-benban-solar-park-mb0276","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/ifc-benban-solar-park-mb0276\/","title":{"rendered":"IFC Consortium Finalises Investment In The World&#8217;s Largest Solar Park"},"content":{"rendered":"<div id=\"attachment_16266\" style=\"width: 710px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-16266\" class=\"size-full wp-image-16266\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/10\/benban-solar-park.jpg\" alt=\"Benban solar park\" width=\"700\" height=\"405\" \/><p id=\"caption-attachment-16266\" class=\"wp-caption-text\">Image: <a href=\"https:\/\/pixabay.com\/en\/solar-energy-photovoltaic-panels-868663\/\" target=\"_blank\" rel=\"nofollow noopener\">eliseocabrera<\/a><\/p><\/div>\n<p>A USD $653 million debt package for the construction of 13 solar farms at Egypt&#8217;s Benban Solar Park was finalised by the International Finance Corporation (IFC) on the weekend.<\/p>\n<p><!--more-->The IFC states the project is the largest private sector financing package for solar PV facilities in the Middle East and North Africa. The clean power stations covered under the package will collectively have up to 752 megawatts capacity and provide green electricity to more than 350,000 residential customers.<\/p>\n<p>The IFC says it has brought together nine international banks for the project, all of which are investing in Egypt&#8217;s renewable energy sector for the first time.<\/p>\n<blockquote><p>\u201cEgypt\u2019s reforms in its energy sector opened the door to private sector investments,\u201d <a href=\"https:\/\/ifcextapps.ifc.org\/ifcext\/pressroom\/ifcpressroom.nsf\/0\/C47EC9AF0897C57A852581C8003DE257?OpenDocument\" target=\"_blank\" rel=\"noopener\"> said<\/a> Philippe Le Hou\u00e9rou, the CEO of IFC. \u201cFor the Benban Solar Park project, those reforms and our innovative financial tools have helped attract a number of investors and financiers into the country for the first time. This will create jobs for many Egyptians and provide clean and reliable energy for people across the country.\u201d<\/p><\/blockquote>\n<p>It&#8217;s expected up to\u00a0 6,000 jobs will be created during construction of the 13 plants.<\/p>\n<p>The Corporation says the share of renewable energy investments in IFC&#8217;s power portfolio have more than doubled in the last decade to 60 percent.<\/p>\n<h2>Benban &#8211; The World&#8217;s Largest Solar Project<\/h2>\n<p>The Egyptian government has allocated approximately 37 square kilometres of land in Benban to be used exclusively for renewable energy generation. The land has been divided into 41 contiguous plots that will host a total of 1.8GW of solar energy capacity.<\/p>\n<p>As well as addressing emissions, stimulating the local economy and generating thousands of jobs, Benban Solar Park will help tackle Egypt&#8217;s rapidly growing electricity demands. The pressure from demand on the country&#8217;s grid have led to increasing blackouts.<\/p>\n<p>Benban is approximately 40 kilometres from Aswan and 650 kilometres from the nation&#8217;s capital, Cairo.<\/p>\n<p>According to <a href=\"http:\/\/www.rcreee.org\/content\/egypt\" target=\"_blank\" rel=\"noopener\">RCREEE<\/a>, 94% of total primary energy consumption in Egypt is currently from fossil fuels.<\/p>\n<p>Egypt&#8217;s government has set a goal of generating 20 percent of its electricity from renewable resources by 2022. To assist in achieving that goal, the Nubian Suns Feed-in-Tariff Financing Program established by the government will support individual solar facilities up to 50MW in size, with a view to the country initially having 2,000MW of 500kW+ solar projects and 300MW of &lt;500kW solar power systems.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A USD $653 million debt package for the construction of 13 solar farms at Egypt&#8217;s Benban Solar Park was finalised by the International Finance Corporation (IFC) on the weekend.<\/p>\n","protected":false},"author":17,"featured_media":16266,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-16265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IFC Consortium Finalises Investment In The World&#039;s Largest Solar Park<\/title>\n<meta name=\"description\" content=\"A USD $653 million debt package for the construction of 13 solar farms at Egypt&#039;s Benban Solar Park was finalised by the IFC on the weekend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/ifc-benban-solar-park-mb0276\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFC Consortium Finalises Investment In The World&#039;s Largest Solar Park\" \/>\n<meta property=\"og:description\" content=\"A USD $653 million debt package for the construction of 13 solar farms at Egypt&#039;s Benban Solar Park was finalised by the IFC on the weekend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/ifc-benban-solar-park-mb0276\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-29T20:53:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/10\/benban-solar-park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/ifc-benban-solar-park-mb0276\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/ifc-benban-solar-park-mb0276\\\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/#\\\/schema\\\/person\\\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"IFC Consortium Finalises Investment In The World&#8217;s Largest Solar Park\",\"datePublished\":\"2017-10-29T20:53:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/ifc-benban-solar-park-mb0276\\\/\"},\"wordCount\":411,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/ifc-benban-solar-park-mb0276\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.solarquotes.com.au\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/benban-solar-park.jpg\",\"articleSection\":[\"General Solar &amp; 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As with many developing\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar Power Facility For Mozambique","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/solar-farm-mozambique.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/solar-farm-mozambique.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/solar-farm-mozambique.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/solar-farm-mozambique.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":22589,"url":"https:\/\/www.solarquotes.com.au\/blog\/png-commercial-solar-mb0647\/","url_meta":{"origin":16265,"position":1},"title":"Commercial Solar Pilot Program Proposed For Port Moresby","author":"Michael Bloch","date":"June 29, 2018","format":false,"excerpt":"The use of grid-connected commercial solar power systems in Papua New Guinea is currently illegal. That may be about to change and the country's commercial solar sector could kick off under a program that Australia will be a part of. The International Finance Corporation (IFC) and PNG Power Limited have\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar power in Papua New Guinea","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/06\/png-commercial-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/06\/png-commercial-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/06\/png-commercial-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/06\/png-commercial-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17207,"url":"https:\/\/www.solarquotes.com.au\/blog\/abb-solar-egypt-mb0337\/","url_meta":{"origin":16265,"position":2},"title":"ABB Inverters Powering Egypt&#8217;s First Large-Scale Solar Plant","author":"Michael Bloch","date":"December 1, 2017","format":false,"excerpt":"ABB inverters have been used at Egypt's first large-scale, grid-connected solar farm - and it looks like they could be in for a particularly tough working life. Toshka Solar Park is a 20MW project that was commissioned in two phases over the course of this year, with the second phase\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar power - egypt","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/abb-egypt-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/abb-egypt-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/abb-egypt-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/abb-egypt-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":24112,"url":"https:\/\/www.solarquotes.com.au\/blog\/nt-airports-solar-mb0735\/","url_meta":{"origin":16265,"position":3},"title":"More Solar For Northern Territory Airports","author":"Michael Bloch","date":"September 7, 2018","format":false,"excerpt":"Several solar farms and an off-site battery storage system will be built in the NT with the assistance of funding provided to Northern Territory Airports Pty Ltd. The funding comes in the form of a loan from the Northern Australia Infrastructure Facility (NAIF). The $150 million infrastructure investment package includes\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar farms - Northern Territory Airports","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/nt-airports-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/nt-airports-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/nt-airports-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/09\/nt-airports-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":19946,"url":"https:\/\/www.solarquotes.com.au\/blog\/sydney-markets-solar-energy-mb0504\/","url_meta":{"origin":16265,"position":4},"title":"Sydney Markets Now Boasts 3MW+ Of Solar Power","author":"Michael Bloch","date":"March 14, 2018","format":false,"excerpt":"Sydney Markets today officially switched on a huge addition to its previously existing solar capacity and has laid claim to having Australia\u2019s biggest private sector rooftop solar power system at a single site. The latest project brings the total number of solar panels installed at the Markets to 8,594, with\u2026","rel":"","context":"In &quot;Commercial Solar&quot;","block_context":{"text":"Commercial Solar","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/commercial-solar\/"},"img":{"alt_text":"Sydney Markets solar power system","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/sydney-markets-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/sydney-markets-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/sydney-markets-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/sydney-markets-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":18712,"url":"https:\/\/www.solarquotes.com.au\/blog\/solar-powered-theme-park-0433\/","url_meta":{"origin":16265,"position":5},"title":"Solar Powered Theme Park Part Of New Jersey&#8217;s Bright Energy Future","author":"Michael Bloch","date":"January 26, 2018","format":false,"excerpt":"Six Flags Great Adventure in the U.S. state of New Jersey has announced a major solar project to help power the theme park - and it's also drawing attention to the state's renewable energy renaissance. Claiming it a world-first for a theme park, 23.5-megawatts of solar capacity will be installed\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar powered theme park","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/solar-theme-park.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/solar-theme-park.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/solar-theme-park.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/solar-theme-park.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/16265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=16265"}],"version-history":[{"count":3,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/16265\/revisions"}],"predecessor-version":[{"id":84945,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/16265\/revisions\/84945"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/16266"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=16265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=16265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=16265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}