El Sewedy in Talks for Benban Solar Power Plant loan

El Sewedy in Talks for Benban Solar Power Plant loan

El Sewedy Electric is in talks with financial institutions for a loan to fund its 50MW solar power plant project in Benban as part of the feed-in tariff (FiT) program, according to the Egyptian Exchange.

El Sewedy has also confirmed the company is in talks for a $75m loan to finance the project and moving forward as planned in 2016, according to  Al Mal.

In addition, El Sewedy and Siemens are in negotiations with the Egyptian Electricity Transmission Company (EETC) to build two 500kV transformer stations at a cost of EGP2.
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2b in Gharbeia and Beheira, El Sewedy said according to the Egyptian Exchange.

In 2016, El Sewedy established The Egyptian Company for Developing  Solar Energy, in attempts to develop, finance, construct, and operate the Benban project, with estimated investments of $100m.

El Sewedy also said that the company has completed the studies of the solar power plant project including the technical measurements required for the land, which is about one million square meters.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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