{"id":542940,"date":"2022-01-25T03:57:44","date_gmt":"2022-01-25T03:57:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/"},"modified":"2022-01-25T03:57:44","modified_gmt":"2022-01-25T03:57:44","slug":"ebrd-writes-usd-100-mn-check-for-scatecs-green-bond","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/","title":{"rendered":"EBRD writes USD 100 mn check for Scatec\u2019s green bond"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>EBRD backs Scatec Solar Benban green bond:<\/strong> The European Bank for Reconstruction and Development (EBRD) will subscribe to almost a third of Scatec Solar\u2019s upcoming green bond issuance, which will use the proceeds to support its solar plants in Benban, according to <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/52879.html\">the bank\u2019s website<\/a>. The lender will contribute USD 100 mn to the USD 340 mn issuance, in addition to providing a USD 30 mn standby liquidity facility for other investors participating in the sale.<\/p>\n<p><strong>Another first:<\/strong> This will be the first-ever renewable energy, corporate green bond issuance in Egypt. CIB issued the country\u2019s first private sector green bond last year with a <a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=26548\">USD 100 mn issuance<\/a> supported by the International Finance Corporation, the proceeds of which were earmarked to finance <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5e3510-53bf-4f7b-b5ed-f3ae5b19eb31\">green buildings<\/a>.<\/p>\n<p><strong>The proceeds will be used for \u201cfurther <\/strong><strong>renewable energy development,\u201d<\/strong> the bank said, without providing further information. Scatec\u2019s Benban plants were completed and <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/17\/egypt-to-inaugurate-benban-solar-park-in-november\/\">connected to the national grid<\/a> back in 2019.<\/p>\n<p><strong>The project:<\/strong> Scatec is the majority owner of <a href=\"https:\/\/scatec.com\/2019\/10\/16\/scatec-solar-completes-the-390-mw-benban-project-in-egypt\/\">six solar plants<\/a> in Benban, producing a combined 380 MW of electricity. The plants are 51% owned by the Norwegian renewables producer, 25% by African infrastructure investment bank Africa 50, and 24% by Norwegian development finance institution Norfund. Scatec has a 25-year power purchase agreement with the Egyptian Electricity Transmission Company for the projects, which were <a href=\"https:\/\/scatec.com\/locations\/egypt\/#benban-egypt\">partially financed<\/a> by EBRD loans. The project\u2019s other lenders are Dutch development bank FMO, Islamic Development Bank, Islamic Corporation for the Development of the Private Sector, and the Green Climate Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EBRD backs Scatec Solar Benban green bond: The European Bank for Reconstruction and Development (EBRD) will subscribe to almost a third of Scatec Solar\u2019s upcoming green bond issuance, which will use the proceeds to support its solar plants in Benban, according to the bank\u2019s website. The lender will contribute USD 100 mn to the USD [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":542941,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7825],"tags":[572,7286,7106,101,571,93,72,224,246,570,411,150,151,573],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-economy","tag-benban-solar-park","tag-climate","tag-debt","tag-development-finance","tag-ebrd","tag-energy","tag-enterpriseam","tag-green-bonds","tag-green-economy","tag-japan","tag-judiciary","tag-renewable-energy","tag-renewables","tag-scatec","wpautop","entry"],"acf":{"mongo_id":"4be1b672-4abf-4c0b-9ddc-e3924546d6ca","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/323.jpg","photo_position":"above","related_issue":[542931],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EBRD writes USD 100 mn check for Scatec\u2019s green bond - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD writes USD 100 mn check for Scatec\u2019s green bond\" \/>\n<meta property=\"og:description\" content=\"EBRD backs Scatec Solar Benban green bond: The European Bank for Reconstruction and Development (EBRD) will subscribe to almost a third of Scatec Solar\u2019s upcoming green bond issuance, which will use the proceeds to support its solar plants in Benban, according to the bank\u2019s website. The lender will contribute USD 100 mn to the USD [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-25T03:57:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/323.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EBRD writes USD 100 mn check for Scatec\u2019s green bond\",\"datePublished\":\"2022-01-25T03:57:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\"},\"wordCount\":255,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/323.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Benban solar park\",\"Climate\",\"debt\",\"development finance\",\"EBRD\",\"energy\",\"EnterpriseAM\",\"green bonds\",\"Green Economy\",\"Japan\",\"judiciary\",\"renewable energy\",\"renewables\",\"Scatec\"],\"articleSection\":[\"Green economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\",\"name\":\"EBRD writes USD 100 mn check for Scatec\u2019s green bond - 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An agreement was signed to allow Scatec to go ahead with the plan during a meeting between Prime Minister Mostafa Madbouly, Scatec\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/393.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546160,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/05\/ebrd-buys-into-scatecs-green-bond-issuance\/","url_meta":{"origin":542940,"position":1},"title":"EBRD buys into Scatec\u2019s green bond issuance","author":"enterpriseam admin","date":"5 May 2022","format":false,"excerpt":"The European Bank for Reconstruction and Development (EBRD) has confirmed that it is snapping up to USD 100 mn worth of Scatec\u2019s USD 334.5 mn green bond issuance to refinance its six solar plants in Benban. The EBRD is also providing a USD 30 mn credit enhancement facility for participating\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/82.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591973,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/ebrd-closes-acquisition-of-20-stake-in-egypts-infinity-solar\/","url_meta":{"origin":542940,"position":2},"title":"EBRD closes acquisition of 20% stake in Egypt\u2019s Infinity Solar","author":"enterpriseam admin","date":"23 December 2019","format":false,"excerpt":"M&A WATCH- EBRD closes acquisition of 20% stake in Infinity Solar: The European Bank for Reconstruction and Development (EBRD) has reportedly acquired a 20% stake in Infinity Solar worth USD 60 mn, a source close to the matter told Al Mal. The EBRD announced the investment last October. It will\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596165,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/20\/elsewedy-electric-scatec-solar-begin-commercial-operations-at-new-benban-solar-plants\/","url_meta":{"origin":542940,"position":3},"title":"ElSewedy Electric, Scatec Solar begin commercial operations at new Benban solar plants","author":"enterpriseam admin","date":"20 August 2019","format":false,"excerpt":"Elsewedy, Scatec Solar begin commercial operations at new Benban solar plants: ElSewedy Electric has reached full commercial operation at two solar energy plants in Aswan\u2019s Benban solar power park, according to a company statement (pdf). The two plants, which cost a combined USD 140 mn project, were built by ElSewedy\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568933,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/09\/ebrd-qnb-alahli-agree-usd-82-mn-climate-finance-package\/","url_meta":{"origin":542940,"position":4},"title":"EBRD, QNB Alahli agree USD 82 mn climate finance package","author":"enterpriseam admin","date":"9 February 2020","format":false,"excerpt":"EBRD commits fresh capital to climate finance in Egypt: The European Bank of Reconstruction and Development (EBRD) and QNB Alahli have agreed a USD 82 mn financial package to fund green and SME-led projects in Egypt, the EBRD said in a statement. The package consists of a USD 17 mn\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":589631,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/06\/scatec-signs-land-pact-for-5-gw-wind-farm\/","url_meta":{"origin":542940,"position":5},"title":"Scatec signs land pact for 5-GW wind farm","author":"enterpriseam admin","date":"6 July 2023","format":false,"excerpt":"The USD 5 bn plant will be key to helping Egypt achieve its ambitious renewable energy targets","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/150.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542940"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542940\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542931"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542941"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542940"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542940"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}