Jul 27, 2017

$635mn investment approved to build and operate 11 solar plants in Egypt

Renewable Energy
Africa
Sustainability
James Henderson
2 min
The Board of Executive Directors of IFC, a member of the World Bank Group, has approved an investment of $635mn that will help construct, ope...

The Board of Executive Directors of IFC, a member of the World Bank Group, has approved an investment of $635mn that will help construct, operate and maintain up to 11 solar power plants in Egypt.

The combined capacity of the plants amount to 500 megawatts, and will be one of the largest private foreign direct investments in the country’s power sector in recent years.

Part of Egypt's landmark solar Feed-In Tariff (FIT) program, the $730mn project in Benban, near Aswan, aims to mobilise private investment to build the world's largest solar photovoltaic generation park, harnessing the country’s vast solar resources.

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As well as helping to spur economic growth, the project will help drive the local economy, including the creation of temporary and long-term jobs and help reduce greenhouse gas emissions

“This landmark investment demonstrates that when you have the right reform policies, and a government willing to allow greater involvement by the private sector, you can attract investors in every sector, including infrastructure,” said Mouayed Makhlouf, IFC Director for the Middle East and North Africa.

“Investments like these are the nucleus for economic growth, which is needed in Egypt.”

Egypt’s solar FIT program, which includes projects financed by other institutions like the European Bank for Reconstruction and Development and Proparco, is expected to be one of the largest foreign direct investments in years, attracting investments of up to $2bn. 

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May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

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