EBRD, GEF, lend Taqa Arabia USD 5.5 mn for solar plant: The European Bank for Reconstruction and Development (EBRD) will extend a USD 5.5 mn loan — comprised of USD 4.95 mn from the EBRD and a USD 550k concessional loan from the Global Environment Facility (GEF) — to Taqa Arabia subsidiary Taqa PV for Solar Energy to build and operate a 7 MW solar plant in Minya, Egypt, the bank said in a statement. The loan comes as part of the EBRD’s lending program to green private-to-private renewable energy projects.

Details: The plant, which broke ground last month, will supply electricity to Qalaa Holding subsidiary ASCOM Carbonate and Chemicals Manufacturing under a 25-year PPA.

This is part of a USD 10 mn financing package: The EBRD loaned Taqa PV USD 4.2 mn in 2020 for a 6 MW solar plant supplying electricity to Qalaa Holdings’ Dina Farms, which kicked off operations late last year.