Scatec Solar wins Islamic Finance News award

The “transaction of the year” for 2017 has been awarded to Scatec Solar for its Egypt deal by the Islamic Finance News. The award was presented in Dubai.

Scatec Solar’s Egypt transaction involved raising USD 335 million from a DFI consortium that  included the  EBRD, the Dutch development bank FMO, the Islamic Development Bank and the Islamic Corporation for the Development of the Private Sector. The USD 335 million debt package represents 75% of the capex of USD 450 million. Scatec Solar also accessed climate finance from the Green Climate Fund, while equity partners include Norwegian DFI Norfund and Africa50, the infrastructure fund for Africa.

With six projects totaling 400 MW, Scatec Solar is a leading solar energy player in Egypt, where the Benban solar installation upon completion will be the largest in the world with a planned total capacity of 1.8 GW.

Considered prestigious, the Islamic Finance News Awards are highly regarded by the global Islamic capital markets

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