The African Development Bank (AfDB) has approved a $184.1 million financing package for what will become Egypt’s largest utility-scale solar power plant, marking a major milestone in both Egypt’s energy transformation and Africa’s sustainable infrastructure push.
The loan approved by the Bank’s Board earlier this month will bankroll the development of a new 200 MW photovoltaic (PV) solar complex in Kom Ombo, located in Upper Egypt, south of Cairo. It represents a significant step in Egypt’s ambitious agenda to reach 42% renewable energy generation by 2030.
The Kom Ombo initiative has already secured full financial closure with multiple development partners. Alongside the AfDB’s commitment, the project’s estimated US $182 million in total funding includes loans from the European Bank for Reconstruction and Development, the Green Climate Fund, the OPEC Fund for International Development, Arab Bank, and SEFA, the AfDB’s sustainable energy facility supporting the final commitment needed to prompt construction .
When operational by early 2024, the plant is expected to deliver one of Africa’s lowest solar tariffs and power approximately 130,000 households while delivering substantial reductions in CO₂ emissions .
AfDB Vice President for Power, Energy, Climate and Green Growth Kevin Kariuki hailed the Kom Ombo financing as a testament to the Bank’s support for Egypt’s energy transition and its strategic “Light Up and Power Africa” agenda .
The project complements a growing portfolio of renewable energy investments in Egypt by the AfDB. Most recently, in December 2024, the Bank approved a $170 million loan to support the country’s 1.1 GW Suez Wind Project, demonstrating its broad commitment to Egypt’s clean
