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Case

Solar energy

Danish investment into the world’s largest solar park

30. November 2022
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Solution provider

Investment Fund for Developing Countries – IFU

IFU is the Danish Development Finance Institution providing risk capital for private sector investments in developing countries and emerging markets. Investments are made on commercial terms in the form of equity, loans and guarantees. The purpose is to support the green transition and create just and inclusive societies.

More from Investment Fund for Developing Countries – IFU

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Challenge

Meeting the increasing demand for power and reduce the number of power cuts, which have affected Egypt severely over the years. Therefore, the solar park is also significant for Egypt to continue its sustainable development.

Solution

The construction of a solar park in the western deserts of Egypt. The solar park is the largest in the world with 41 plots, 3 of which are financed by Investeringsfonden for Udviklingslande (IFU).

Result

The three solar plots have created about 1,000 jobs during the construction phase. In future they will produce 300,000 MWh a year on average and employ about 70 people, primarily locals, who will be in charge of the daily operations.