RGS Energy announced that it has obtained the accreditation from Egypt’s New and Renewable Energy Authority (NREA), as it will be able to implement connectivity projects on the national electricity grid, El Mal reported.

RGS’s Chairman, Mohamed Ali, said that the firm is currently negotiating with different factories and companies to establish solar power stations aiming to rationalize electricity consumption.

Ali asserted that the cost of a solar power station is restored in three to five years.

RGS initially agreed with local lenders to provide financing programs for the customers.

Additionally, RGS initially agreed with the European Bank for Reconstruction and Development (EBRD) to provide grants representing 15% of the loan in favor of EBRD’s customers.