TAQA Arabia compensations 6 MWp solar plant in Egypt
- Egyptian power company TAQA Arabia has actually put into procedure a 6-MWp private-to-private solar park in the north of the African country that will provide green power to neighborhood dairy products company Dina Farms under a 25-year power purchase contract (PPA).
The project was funded with a USD-4.2-million (EUR 3.6 m) car loan from the European Bank for Repair and also Development (EBRD) which became part of a USD-10-million funding bundle provided by the lender to increase TAQA Arabia's private-to-private renewable energy company.
Located in the coastal Beheira Governorate in the Nile Delta, the facility will cover part of the power needs at Dina Farms with eco-friendly electricity. This is the very first EBRD-financed project in Egypt that includes direct power supply from a privately-owned generator to a private off-taker with a company PPA.
Both TAQA Arabia as well as Dina Farms are subsidiaries of Egypt-based investment company Qalaa Holdings.