Graviton Capital, a US company, is pondering investments of up to $10m – $20m per financing operation in small new and renewable energy projects in Egypt, Daily News Egypt reported.
The investment will be suitable for small- and medium-sized factories that specialize in the production of batteries and solar panels, according to an official at Cartel Capital, the company’s regional partner, Amwal Al Ghad wrote.
Graviton will first carry out investment studies in order to understand Egypt’s monetary policy. The investments will not be allocated until a clear monetary policy is in place amid fluctuations between the dollar and the Egyptian pound.
The plan is in line with Egypt’s strategy to attract investments worth $10bn in the field of new and renewable energy by 2020, as announced previously by Mohamed El-Sobky, the Executive Chairman of the New and Renewable Energy Authority.