UfM-supported framework SPREF: First Egyptian project for renewable energy is launched
The European Bank for Reconstruction and Development (EBRD) is promoting the expansion of renewable energy in Egypt by supporting one of the first green private-to-private projects in the country, a 6 MWp solar photovoltaic power plant located at Dina Farms in the Beheira governorate, 80 km from the Egyptian capital Cairo.
This is the EBRD’s first project in Egypt under the Southern and Eastern Mediterranean Private Renewable Energy Framework (SPREF), which falls under the umbrella of the UfM Regional Dialogue Platform on Renewable Energy and Energy Efficiency, created to promote the deployment of renewable energy and energy efficiency measures.
With an initial US$ 4.2 million loan to TAQA PV for Solar Energy, TAQA Arabia’s renewable energy subsidiary, this photovoltaic power plant will enable Dina Farms, the largest dairy farm in Africa, to cover part of its energy consumption with clean energy.
The plant is the first private-to-private renewable energy project financed by the EBRD in Egypt involving direct electricity supply from a privately owned generator to a private off-taker through a corporate PPA.
