Scatec Solar Benban projects

Norway’s Scatec Solar announced on 11 April that commercial operations have begun at a 65MW solar photovoltaic (PV) project located in the Benban solar complex in Egypt. A number of plants are already operating at Benban, which is expected to eventually reach 1.5GW, making it the largest solar park in the world.

Scatec Solar, KLP Norfund (a co-investment vehicle funded by the Norwegian Development Fund (Norfund) and mutual insurance company KLP) and Africa50 signed 25-year power purchase agreements in April 2017 for six 65MW projects which are expected to produce 870GWh/yr. All six are expected online this year and will sell power at $8.4c/kWh. The group will be the largest single generator at the Benban site.

“We have been a pioneer in Egypt since 2013 and have worked closely with the government to support implementation of large-scale solar to increase the country’s share of renewable energy”, said Scatec Solar chief executive Raymond Carlsen. “Grid connecting our first solar power plant marks a major milestone for us. This is also our first power plant with bi-facial solar panels, capturing the sun from both sides of the panel to increase the total clean energy generation”.

All six projects are being financed by a consortium of lenders including the European Bank for Reconstruction and Development, the Islamic Development Bank, the Islamic Corporation for the Development of Private Sector, the Green Climate Fund, and the Netherland’s FMO.

 

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