Masdar acquires 64MW solar plant in Egypt
The 64MW PV solar plant was commissioned in 2018 and is located in the Benban solar complex, which contains more than 1.4GW of PV solar projects developed under Egypt's ambitious feed-in-tariff (FIT) programme
UAE-based Masdar has acquired a 64MW photovoltaic (PV) solar project in Egypt from German renewable energy developer Ib Vogt.
The 64MW PV solar plant was commissioned in 2018 and is located in the Benban solar complex, which contains more than 1GW of PV solar projects developed under Egypt’s ambitious feed-in-tariff (FIT) programme.
In addition to the acquisition of the 64MW PV plant, Masdar and Ib Vogt have also signed agreements of intent regarding the purchasing of Ib Vogt’s shareholdings in three more solar plants in the Benban complex, which have a combined total capacity of 166.5MW.
The Benban solar park is part of Egypt’s plans to develop significant renewable energy sources in the coming years, having set some of the most ambitious clean energy targets in the Mena region. Cairo has set a target for 42 per cent of its energy to come from renewable sources by 2035, the second largest target in the Mena region after Morocco.
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