PROJECT

Projects

Summary of Investment Information

Project Number

37637

Company Name

TAQA ARABIA FOR SOLAR ENERGY S.A.E.

Date SPI Disclosed

May 5, 2016

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Jul 31, 2017

Environmental Category

B - Limited

Status

Active

Last Updated Date

Sep 30, 2022

Department

Regional Industry - INF Africa

Industry

Infrastructure

Previous Events

Approved : Jul 20, 2017
Signed : Oct 11, 2017
Invested : Jun 7, 2018

Sector

Solar - Renewable Energy Generation

Project Description

The project is a greenfield 50 MWac photovoltaic (PV) plant being developed by TAQA Arabia S.A.E. (the Sponsor) as part of Round 2 of the Egyptian Government feed-in-tariff (FiT) scheme for domestic solar PV and wind energy projects. TAQA Arabia is currently owned by Qalaa Holdings (previously known as Citadel Capital) which IFC has existing investments with. This sponsor will own the project company “TAQA Arabia for Solar Energy S.A.E.” (TAS), and has selected Sterling & Wilson as the Engineering, Procurement, and Construction (EPC) and Operations and Maintenance (O&M) contractor.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation