One million Egyptians are set to gain access to clean energy at the lowest rates in Africa,from twin solar and wind power plants with a combined capacity of 1.07 GW,the International Finance Corporation said. World Bank Group member IFC said it contributed USD 145 million within a USD 1.1 billion debt and equity package for Egypt's biggest solar farm and wind power plant projects. It arranged the deal with partner banks from the United Arab Emirates,Japan and the Netherlands. They approved the financing deal for UAE-based AMEA Power to build,own,and operate the 560 MW Abydos Solar facility and the Amunet Wind system with a capacity of 505 MW. The two power plants will deliver renewable energy at the lowest price in Africa,at USD 20 per MWh and USD 30 per MWh,respectively,according to the announcement.
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