UK’s Globeleq acquires Egyptian solar plant in Benban

UK’s Globeleq acquires Egyptian solar plant in Benban

Cairo: The British independent power producer Globeleq has acquired ARC for Renewable Energy (ARC) 66-MWp solar PV plant at the Benban Solar Park near Aswan, Egypt. The solar plant, which has been operational since November 2019, provides clean electricity to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement (PPA). It was financed by the International Finance Corporation (IFC), Globeleq's shareholder CDC Group (CDC), the Asian Infrastructure Investment Bank, Europe Arab Bank, and Finance in Motion. Globeleq will provide ARC with asset management services and supervise the project's operation and maintenance contractor, GILA Al Tawakol. ARC will be linked to Globeleq's remote monitoring centre located in Cape Town, South Africa. All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. ( ).