InfraMed joins the Total/BPE consortium on the Egyptian Feed-in-Tariff programme

On 30 May 2016, InfraMed entered into an agreement with Total Energie Developpement, the renewable energy arm of Total S.A., and BPE Partners, an Egypt-based private equity fund manager, to become a 49% shareholder in a company developing a 50MWac greenfield photovoltaic solar farm project in Egypt. The farm will be developed on a 133ha land located on the commune of El Gouna (c.30 km from Hurghada along the Red Sea coast). The project is expected to achieve financial close by Q4 2016 and construction to start immediately after. SunPower Corporation, a subsidiary of Total S.A., will be responsible for the engineering, procurement and construction of the plant.