Cairo Solar is seeking new international lenders
Feed-in tariff investors present three alternatives to gov't, including accommodating domestic arbitration
12 investors have agreements, now looking to replace international financing that backed out: A source told Al Mal that 12 investors, including international companies, have already agreed to terms that include domestic arbitration and are now focused on securing funding after their original international lenders pulled out over the states insistence on domestic arbitration. These include the Nile Capital Investments-owned Delta for Renewable Energy, which has reached an agreement with a state-owned bank to fund 50% of the project, after its international funder pulled its 80% commitment over the issue of domestic arbitration. Cairo Solar is seeking new international lenders and is in talks with four Egyptian banks to replace those who have pulled out, said Cairo Solar CEO Hisham Tawfik, Al Borsa reports.
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