The Egyptian Government launched a solar Feed-in-Tariff programme in 2015 with a goal of generating 20% of energy from renewable sources by 2022. With 1.8 GW and covering 36 km², the Benban site near Aswan is in 2019 the world’s largest one-site solar project. Scatec Solar entered the market in 2015 and with 390 MW in operation, the company is the largest solar developer in Egypt.
In 2017, Scatec Solar signed 25-year Power Purchase Agreements for delivery of electricity from six plants totalling 390 MW with the Government of Egypt. The project is located near Aswan in Upper Egypt where Scatec Solar is the single largest contributor to the 1.8 GW Benban Solar Park with this 390 MW project. This is Scatec Solar’s largest and our first project using bifacial solar modules. The bifacial modules are producing energy from both sides of the solar panel, increasing the total clean energy generation. The project holds a 25-year PPA with the Egyptian Electricity Transmission Company. The equity partners are KLP Norfund Investments AS and Africa 50. Lenders are EBRD, FMO, IsDB, ICD and Green CF.