Home TAQA Arabia for Solar Energy SAE TAQA Arabia for Solar Energy SAE In brief The project company was founded to construct and operate a 50 MW solar power plant in Benban, South Egypt. The solar PV power plant is one of about 30 plants to be constructed to the same 3,700 hectares site in Benban. The Benban site’s total power production will be around 1.5 GW. Electricity produced in the plant will be sold to the government owned Egyptian Electricity Transmission Company with a long-term power purchase agreement, benefiting the people of Egypt with low cost renewable electricity. Main development impact Egypt produces over 90% of its electricity from fossil fuels. The solar power rollout (1.5 GW) in Benban will increase Egypt’s solar power capacity tenfold. This will diversify Egypt’s generation capacity and dependence on fossil fuels. The project will enhance climate change mitigation with estimated CO2 reductions of around 55,000 tons annually. Investment details Name: TAQA Arabia for Solar Energy SAE Project number: 80000137 Region: Africa Country: Egypt Sector: Energy Signing date (month/year): October 2017 Currency: USD Finnfund's financing (commitment): 7,804,000 Size of the project financing: USD 76,000,000 Share of Finnfund's financing (%): 11,10 % Status: Active Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.October Read our transparency and disclosure policy More information: Ajankohtaista ja julkaisut Nykyiset investoinnit Toimialat Yhteystiedot Key facts Name: TAQA Arabia for Solar Energy SAE Sector: Energy Region: Africa Country: Egypt Currency: USD Finnfund's financing (commitment): 7,804,000 Signing date (month/year): October 2017 Last update: May 2019