Egypt’s First Solar Plant to Start Operations

Egypt’s First Solar Plant to Start Operations

Egypt’s Karm Solar will start operations in its first solar power plant by late September, producing 1 MW of energy to be sold to an Egyptian beverage and yogurt company, Juhayna, reported Al Borsa News.

Karm Solar’s CEO, Ahmed Zahran stated that the establishment costed EGP 14m, financed through the Social Fund for Development and internal investments from the company itself, reported Daily News Egypt.

As the first solar energy producing power plant in Egypt, Karm Solar’s facility will save 600,000 liters of diesel each year, and reduce the country’s carbon footprint by 1,620t annually.

The Egyptian Electric Utility and Consumer Protection Regulatory Agency granted Karm Solar a license to sell power directly to commercial consumers.

In related news, Zahran added that the company is finalizing a financial transaction to start a second project to link a power plant of 2 MW capacity in Hurghada before the end of October.

Sarah Samir 2536 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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