Page 57 - Phelan Energy Green Ammonia Plant Egypt

Funding Renewables in Egypt
o The GCF-EBRD Egypt Renewable Energy Financing Framework (due for completion in Sept 2022) has led the way for the launch of first private renewable energy projects in Egypt overcoming financial barriers
o Projects such as The Benban Solar Project & RSWE (Red Sea Wind energy) wind project have been pivotal in getting the interest of multilaterals, development finance institutions and other lenders for the financing of renewable energy projects in Egypt
o A consortium led by IFC has provided $653m in financing for construction of 13 solar power plants in Benban Solar Park. The consortium includes ADB, AIIB, Arab Bank of Bahrain, ICBC and OeEB of Austria to name a few
o EBRD has financed 16 projects with combined capacity of 750MW under a $500m agreement for renewable energy financing in Egypt.
FP039: GCF-EBRD Egypt Renewable Energy Financing Framework | Green Climate Fund Benban solar park, Egypt, world's biggest solar photovoltaic (nsenergybusiness.com)
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v The Development Finance Institutions would be best placed to finance the Green Ammonia project that PEG is proposing
v The executive team of PEG have worked with some of these key institutions in the past and are confident to collaborate with them for the project funding