Japanese agency offers loan for 20-MW solar project in Egypt - report
The Japan International Cooperation Agency (JICA) has proposed to lend about USD 91 million (EUR 82m) for the construction of a 20-MW solar photovoltaic (PV) park in Egypt, an unnamed source told Daily News Egypt.
The New and Renewable Energy Authority (NREA) has sent the documentation about JICA’s offer for a soft loan to the House of Representatives on Monday, according to the report.
The authority is to select a consultant to carry out a feasibility study for the scheme.
The newspaper’s source has added that JICA has already finalised its own feasibility study in connection with the project and has granted USD 1.5 million for the installation of solar radiation measurement equipment at the project site. The equipment will also help calculate the expected production rate.