Egypt: EIB considers solar funding

The European Investment Bank (EIB) is appraising two separate loans for solar schemes being developed under the Egyptian feed-in tariff (FiT) programme, which aims to procure a total 2GW of solar power and 2GW of wind power in 2015-17.One is a €73m ($80m) loan for Engie for the construction and operation of two independent 50MW solar photovoltaic (PV) plants in Ben Ban, near Aswan in southern Egypt. The total cost of the development is estimated at €195m.