Rising Sun SAE 50 MW Solar PV project is located in Benban, Egypt. This project was awarded Feed In Tarif (FIT) round II. The project entailed incorporation of a new LLC company (special purpose vehicle) which will develop the 50 MW solar project. The SPV signed a 25-year long term Power Purchase Agreement with the Egyptian Electricity Company (EETC). The project is backed by Ministry of Finance for payment guarantees. . The project reached financial close in Q3-2017 and started commercial operation in Q3-2019. The project is funded by International Financial Corporation (IFC) on a long-term non-recourse basis.
