Several international financial institutions are raising $123 million for the Kom Ombo solar power plant in Egypt. The park, which will have a capacity of 200 MWp, is being built by Saudi Arabian independent power producer (IPP) Acwa Power. 

The Kom Ombo solar project has reached the stage of financial mobilization. The information is confirmed by its developer, the Saudi independent power producer (IPP) Acwa Power, which has announced a financing of 123 million dollars. The loans include $45 million from the Arab Petroleum Investments Corporation (APICORP), $36 million from the European Bank for Reconstruction and Development (EBRD) and $34.5 million from the Green Climate Fund (GCF).

The African Development Bank (AfDB) is also supporting the construction of the Kom Ombo solar park with a $24.4 million loan, including $10 million from the COVID-19 Debt Relief Programme for IPPs of the Sustainable Energy Fund for Africa (SEFA). Acwa Power is also getting $14.8m from Jordan’s Arab Bank, and $14.6m from the Opec Fund for International Development (OFID).