The European Bank for Reconstruction and Development (EBRD) has led the way in providing finance to roll out innovative bifacial solar panels for new PV plants. According to the organization, the Bank worked with the Norwegian developer Scatec Solar ASA on using bifacial technology for its investment in the »Benban« solar plant in Upper Egypt, where it financed 16 plants in what became the largest solar installation on the African continent. »The use of bifacials at the Benban plant would be the first large-scale installation of such panels,« says Nandita Parshad, the EBRD’s managing Director for Sustainable Infrastructure. Using both sides of the solar panels is »particularly suited for use in the desert where the sun rays are reflected back from the sand.«
The market share of bifacial modules is expected to grow rapidly during the next few years from less than three percent currently to 10 percent by 2020, and 40 percent by 2025, driven by falling prices and the availability of advanced infrastructure.