The African Development Bank’s (AfDB) board of directors approved on Tuesday three loans totaling USD 55 mn to fund three 50 MW solar power projects in Benban, Aswan, under phase two of the feed-in tariff program, the bank announced in a statement. Alcazar Energy and its subsidiary, Delta for Renewable Energy, will each receive an USD 18 mn loan. India’s Shapoorji Pallonji will receive USD 19 mn in funding, USD 7 mn of which are a concessional financing facility from the Global Environment Fund. Shapoorji has already signed financing agreements with the AfDB to fund its US 85 mn project.

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