EDF Renewables invests to acquire undisclosed share in local firm managing 170MW portfolio of solar projects in operations, under construction and advanced development.
The 200MW project n Egypt’s West Nile province will be one of Egypt’s largest solar parks, not far from the Benban solar complex and construction is expected to start in 2021.
The investment, which is contingent on approvals, would help the Mansour Group-owned developer roll-out solar, wind, distribution infrastructure and EV charging systems in Egypt and neighbouring states.
The fresh funding wraps up a summer of global expansion for the Norwegian firm, with utility-scale projects switched on in Ukraine, Egypt, Mozambique and Malaysia.
Parent Creadev, existing backer Proparco and the EBRD to fund €283m of total capital increase, launched by firm to push PV, wind portfolio from current 1GW.
Firm breaks ground on 148MW plant in former Soviet state, links second 65MW bifacial unit at Benban complex and signs deal for 33MW farm by river Niger.
