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    FAS Energy To Invest In 500MW Solar Project In Egypt


    June 29, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      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).

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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