Solar developer ACWA Power has secured a total US$114 million from financial institutions to fund the construction of what it claims will be Egypt’s largest private solar plant.
A 12.9MW floating PV plant is set to be deployed at a hydropower reservoir in Albania thanks to a loan provided by the European Bank for Reconstruction and Development (EBRD).
Balkan state says it is examining potential areas for solar to be rolled out in after launching EBRD-backed auction to contract utility-scale project near the coast.
Government contract win is the latest in the Caucasus region for UAE player, who was chosen last month by neighbour Armenia to start up solar ecosystem with 400MW push.
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.
Development financier walks PV Tech through project milestones under first solar-only stage of renewable programme, set now to diversify with €300m funding extension.
