The EBRD is to lead financing for a total 750MW of PV capacity costing $1.15bn, potentially increasing Egypt’s installed solar size more than ten-fold.

The European Bank for Reconstruction and Development (EBRD) has approved almost $500mn of financing for 16 solar photovoltaic (PV) plants to be built at a designated solar projects site at Benban near Aswan in Upper Egypt.

The plants range in capacity from 20MW to 50MW and will have a combined generating capacity of 750MW. The...