The European Bank for Reconstruction and Development reports it is considering lending $54 million to Saudi energy giant ACWA for a 200 MW solar power plant it is building in the town Kom Ombo, in the Aswan governorate of southern Egypt.

The international financial institution said the lending may consist of senior debt financing of up to $40 million co-financed with other parties and an equity bridge loan of up to $14 million.

The 200 MW plant will be located in a vacant arid land 60 km north of Aswan city, adjacent to a 26 MW PV plant developed by the New and Renewable Energy Authority (NREA) and also approximately 17 km north of the 1.8 GW Benban solar complex, where ACWA Power has already developed 120 MW of solar.

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