MOROCCO: MASEN CLOSES FINANCING FOR NOOR II AND NOOR III CSP PROJECTS
in Middle East Solar News

Only two months after signing the contracts for the concentrated solar power (CSP) projects NOOR Ouarzazate II and NOOR Ouarzazate III with the consortium composed of Acwa Power and Sener, the Moroccan Agency for Solar Energy (Masen) is announcing the financial close of these large solar thermal projects with the effectiveness of all contracts in…

GEORENCO, HAREON SOLAR TO SET UP $75M SOLAR PLANT IN EGYPT
in Middle East Solar News

German consulting company Georenco has joined hands with China-based Hareon Solar, a leading solar PV manufacturer, to establish a solar power station with a capacity of 50MW at a cost of $75 million in Egypt. Documents needed for establishing this station, which is planned to be located in Aswan, are still being processed, said a report…

LENDERS FIND OPPORTUNITY IN EGYPT’S RENEWABLE ENERGY FINANCING GAP
in Middle East Solar News

A scramble to find billions of dollars needed for renewable power projects in Egypt could provide an opportunity for lenders operating in the country. Michelle Davies, the head of clean energy at the UK-based law firm Eversheds, said that there was an “awakening” happening as investors and the Egyptian government realised that international development lenders…

PAKISTAN OPENS 100MW SOLAR PLANT, GOVT PLANS CLEAN ENERGY DRIVE
in Middle East Solar News

The plant, spread over more than 200 hectares of desert land in the south of Pakistan’s Punjab province, will generate 100 megawatts (MW) in its initial phase and more than 300MW by the end of the year, according to government officials. More than a third of Pakistan’s population do not have access to electricity, and…

JORDAN ANNOUNCES $6.9B WORTH OF CONTRACTS
in Middle East Solar News

Here is the list of signed agreements, Memorandum of Understanding (MoU) for the construction of a 1-gigawatt cluster of solar and wind projects under a 20-year power purchase agreement (PPA) between Chinese Firm Hanergy and Ministry of Energy and Mineral Resources MEMR at a value of $1.5 billion. Hanergy will grant the ministry $310 million…

COMPLEMENTARY GUIDE ON RENEWABLES IN EGYPT
in Middle East Solar News

Eversheds has launched jointly with PwC and Egyptian firm Shahid Law a new guide on developing renewables in Egypt. With contributions from the IFC and the EBRD, the guide includes: · Legal framework to set up renewable energy projects · Environmental and social requirements from international finance bodies · Overview of support from international banks…

MESIA ANNOUNCED JORDAN’S ROUND 2 SOLAR TARIFFS FALL BY 50%
in MESIA in the News

The results of Jordan’s Round 2 solar PPA tender have just been released. In total, 24 companies submitted bids. The top 4 will be awarded a 50MW solar PV project, subject to a detailed commercial and technical evaluation of their bid. The average of the top 4 tariffs in Round 2 is over 50% lower…

LOW BIDS ON PROJECT IN JORDAN LIKELY TO TRIGGER SOLAR ENERGY BOOM
in MESIA in the News

The lowest ever bids for a solar power project in Jordan could lead to a boom in the region – especially in Saudi Arabia, industry experts say. “The Jordanian solar market is going to be booming now that solar energy is evidently cheaper than conventional energy,” said Hadi Tahboub, the regional executive director of development…