Abu Dhabi-based Masdar has received a 64MW PV solar project in Egypt from German renewable energy developer Ib Vogt.
The project was jointly developed, built and has been operated by Ib Vogt, with its partner Infinity Energy.
The companies have also signed contracts of intent about the purchase of Ib Vogt’s share-holdings in three more solar parks also situated in the Benban solar complex in Egypt, which have a combined volume of 166.5MW.
The 64megawatt photovoltaic solar plant was commissioned in 2018 and is located in the Benban solar complex, which contains more than 1GW of photovoltaic solar projects developed under Egypt’s ambitious feed-in-tariff (FIT) programme.
Infinity 50 has a 25-year power purchase agreement.
Ib Vogt managing director Anton Milner said: “We are very pleased to be working together with Masdar and to support their partnership with Infinity in continuing the development of the renewable electricity sector in Egypt.
The Benban solar park is part of Egypt’s plans to develop significant renewable energy sources in the incoming years, having set some of the most ambitious clean energy targets in the Mena region. Cairo has set a goal for 42% of its energy to come from renewable sources by 2035, the second-largest target in the Mena region after Morocco.
Infinity Vogt Services will continue to provide operation and maintenance services for the 230MW portfolio at Benban.