Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Egypt
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Pipeline
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-07-20
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Alcazar Energy Egypt Solar 1
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-05-04
Alcazar Solar 1
IFC-37633

Project Description
The project is a greenfield 50 MW photovoltaic (PV) plant being developed by a joint venture between Alcazar Energy and Enerpal Consortium (together the sponsor). The sponsor will own the project company “Alcazar Energy Egypt Solar 1 SAE”. The Engineering, Procurement & Construction (EPC) Contractor will be an EPC joint venture (EPC JV) between TSK and Enviromena, who will also undertake the role of the Operations and Maintenance (O&M) contractor for this project. Environmena were established in Abu Dhabi in 2007, as the first downstream solar company in the Middle East and North Africa. TSK was established as a public company in 1986 and began working in the solar PV field in 2006. It has participated in projects with a capacity of 400MW in PV. The total project cost is up to US$ 70-75 million with an IFC A loan of up to US$ 15 million and syndications of up to US$ 42.3 million, and the balance covered by equity.
Investment Description
Contact Information
Company Contact Information Vito Saluto Alcazar Energy South Tower, 802-03, Emirates Financial Towers, DIFC - PO Box 507122, Dubai, UAE vsaluto@alcazarenergy.com M. +971 52 104 22 93 T. +971 4 558 7805 Accountability Mechanism of the IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/