IFC completes $653mn debt package to fund Egypt’s solar plants

International Finance Corporation (IFC), a member of the World Bank Group, said Sunday it has completed a $653 million debt package to finance the buildings of 13 solar power plants near Aswan in Egypt.

The anticipated plants are to be part of the largest solar park in the world.

Generating up to 752 megawatts of solar power, the Nubian Suns Feed-in-Tariff Financing Program is targeted to provide power to more than 350,000 residents and create up to 6,000 jobs during construction.

Source: Reuters