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IFC and banks close $653 mln in funding for Egypt solar plants
October 29, 2017 / 8:08 AM / 20 days ago

IFC and banks close $653 mln in funding for Egypt solar plants

DUBAI, Oct 29 (Reuters) - International Finance Corporation (IFC), a member of the World Bank Group, on Sunday said it had completed a $653 million debt package to finance the building of 13 solar power plants near Aswan in Egypt, planned to be part of the largest solar park in the world.

Generating up to 752 megawatts of solar power, the Nubian Suns Feed-in-Tariff Financing Program is targeted to provide power to more than 350,000 residents and create up to 6,000 jobs during construction. (Reporting by Tom Arnold; Editing by Alison Williams)

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