Benban PV IPP
ACWA Power developed and financed a BOO (Build, Own and Operate) three solar photovoltaic power plants in Benban 1.5 GW solar park of Egypt under Round 2 of the Feed-in-Tariff (FiT) program. The three projects (Benban 1, Benban 2 and Benban 3) with an aggregate capacity of 120 MW AC and the total investment value of US$ 190 million.
The projects, which are located in the Aswan Province in Benban generates the below listed capacities:
- Benban 1 generates 50 MWp (ACWA Power's shares 32.81%)
- Benban 2 generates 50 MWp (ACWA Power's shares 32.81%)
- Benban 3 generates 20 MWp (ACWA Power's shares 18.05 %)
The projects achieved financial close and commenced construction by Q4 2017. Since beginning operations in 2019, they have powered approximately 80,000 houses and saved around 156,000 tons of CO2 per year.