Egypt is increasing its power generation capacity by harnessing its renewable energy potential. Together with the Benban solar power plant, they will reduce the country’s carbon emissions by two million tonnes.
The world’s largest solar park is located at Benban, in the eastern region of the Sahara Desert. Its name comes from a town near the Nile located near the solar power plant.
The mega solar power plant started to partially operate in December 2017 and will generate 90% of the energy currently produced by the Aswan reserve. In this way, Egypt will have 20% clean energy by 2022.
The project signed a 25-year contract with the Egyptian Public Electricity Transmission Company (EETE) with an effective rate of $ 7.8 / MWh.
Benban is made up of 41 distinct but contiguous plots. They will be connected to the Egyptian high voltage grid via four new substations. In turn, the substations will be connected to an existing 220 Kv line. The objective of the Benban solar park is to reach between 1.6 and 2.0 GW of solar energy by mid-2019.
The area where it was built has a high unemployment rate. For the construction of this solar power plant, more than 10,000 people were needed. When fully operational, it should generate 4,000 direct jobs.
The particular climatic conditions of the desert area were essential in choosing the location, one of the best in the world. Lthe temperature in the area is above 50 ° C, on the contrary, they had to install components with mechanical dust protection and shifts should be done in the cooler hours of the day.
With the installation of the solar power plant, Egypt hopes avoid 2 million tonnes of greenhouse gas emissions per year, taking advantage of its enormous solar potential.
To finance the park, the Multilateral Investment and Guarantee Agency (MIGA), an institution of the World Bank Group, provides $ 210 million of “political risk” insurance to lenders and private investors participating in the park. And also: IFC and a consortium of nine international banks will provide debt of $ 653 million to finance the construction of 13 solar power plants, which will join 19 other factories to form the Benban Solar Park, the largest private sector financing program. for a solar photovoltaic installation in the Middle East and North Africa. The construction of the factories will cost a total of $ 823 million.
More information: miga.org