Scatec Solar ASA announced on 16 October all six of its 65MW solar PV plants at the Benban Solar Park in Aswan governorate, Egypt, have been completed. The first plant was completed in April 2019 followed by the two more in June 2019, two in August and the final project.
Scatec and its partners signed 25-year power purchase agreements for six projects in the second round of Egypt’s feed-in tariff programme (AE 344/9, 334/14). The projects represent a combined investment of around $450m and are expected to generate around $60m/yr in revenue. Scatec partnered with KLP Norfund Investments AS and Africa50 for all six projects, as well as local and regional developers, with Scatec owning 51% of each plant.
The projects were financed by the European Bank for Reconstruction and Development, the Islamic Development Bank and its Islamic Corporation for the Development of Private Sector, the Netherlands’ FMO, and the Green Climate Fund, reaching financial close in October 2017.
“We have been a pioneer in Egypt since 2013 and been supporting the country’s efforts to increase generation capacity and increase the share of renewables in its energy mix. I’m very proud that we have completed our largest project ever. Constructing a total of six solar plants in just over 16 months is a major achievement for everyone involved”, Scatec chief executive Raymond Carlsen said.
The project is the world’s largest solar plant to use bi-facial solar modules, which capture sun from both sides of the panel. Gamesa Electric signed with Scatec in November 2018 to provide 66 of its 5MV power stations. The stations include 132 high efficiency Gamesa E-2.5 MVA-SB-I PV inverters, a step-up transformer, medium voltage protection switchgear and a power plant controller for direct connection to the grid. The plants are expected to produce about 870GWh of electricity per year, which could power more than 420,000 households.
Benban solar park is subdivided into 41 plots with total a capacity of 1.8GW. Scatec is its largest developer. Scatec is a Norwegian independent solar power producer which develops, builds, operates or maintains a total of 1.9GW solar projects around the world.
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