Egypt Renewable Energy Financing Framework
- Energy generation and access
- #7 Affordable and clean energy
Location & People
- Egypt EGY
- Public / Private
- Project size:
- E&S Risk category:
- Category A
- Category B
- Category C
- Instrument Loan USD
- Instrument Grant USD
- EBRD Loan USD
- Other lenders Loan USD
- Sponsors Equity USD
- EBRD Grant USD
Project ownersAccredited Entity
- Access Modality: International
- The European Bank for Reconstruction and Development (EBRD)
The Renewable Energy Financing Framework will support Egypt in meeting its target of 20% renewable energy generation by 2022, through two complementary components.
The first is a comprehensive technical assistance programme to enhance renewable energy integration, policies, and planning. The second component is to scale up investments to support the development and construction of renewable energy projects totalling USD 1 billion. This will be done by blending GCF and EBRD financing to leverage debt financing from international and development financial institutions, and at a later stage from commercial banks and private sector investments.
The projects to be implemented with co-financing from the Framework are expected to generate around 1,400 GWh electricity annually and result in avoided GHG emissions of about 800,000 tCO2e annually once all projects are operational.
The Framework will launch the first wave of private renewable energy projects in Egypt, overcoming financial barriers due to uncertainty and high transaction costs, as well as the macroeconomic situation which has resulted in increased cost of capital and limited availability of debt. The Framework will use debt financing from EBRD and GCF of up to USD 500 million, including up to USD 150 million in loans from GCF.
The project has an estimated lifespan of 18 years.
|ESS report||FP039 - EBRD - Egypt||16 Mar 2017|
|Approved funding proposal||FP039 - EBRD - Egypt||24 Apr 2017|
|Gender action plan||FP039 - EBRD - Egypt||28 Jun 2017|
- European Bank for Reconstruction and Development (EBRD) Mr. Alexis Franke Tel: +44 20 7338 6004 Mr. Jan-Willem Van de Ven Tel: +44 20 7338 7821