FAS Energy To Invest In 500MW Solar Project In Egypt

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FAS Energy To Invest In 500MW Solar Project In Egypt

• 29 Jun 2022
• Egypt
• Infrastructure

News: FAS Energy (a subsidiary of Alhokair Group), in partnership with the Electricity Ministry of Egypt and the Egyptian Electricity Transmission, has unveiled plans to invest a 500MW solar project in Egypt. The USD450.0mn facility will be backed by a syndicated loan from a group of Saudi banks, which would cover USD360.0mn of the power plant's costs, while FAS Energy will provide the remaining USD90.0mn. Construction on the proposed power plant is slated to start in August 2022 with commissioning scheduled in November 2023 (Enerdata).

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