Arab Finance: The European Bank for Reconstruction and Development (EBRD) is considering senior debt financing of up to $192 million for the construction and operation of the 900-megawatt Shadwan Wind power plant in Ras Shukeir, Red Sea Governorate, according to information disclosed by the EBRD on August 14th.
Electricity generated by the facility will be sold to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement.
The project is expected to benefit from a first-loss risk guarantee under the European Fund for Sustainable Development Plus (EFSD+) Hi-Bar guarantee program.
The guarantee program supports sustainable investment projects in the European Neighborhood, including those contributing to the energy transition.