A US $22 milllion investment will be pumped in a new deal between KarmSolar, Egypt’s leading solar power solutions provider, and private real estate developer El Badr for Investment and Commercial Spaces, enabling its commercial project to run 100 percent by solar. The deal includes a commitment by KarmSolar to build solar stations of a total of 20 megawatts by 2021; converting Arkan Plaza commercial project to run 100 per cent on solar energy, according to KarmSolar statement. Egypt is currently supporting all private and public bodies to help accelerate its policy of depending on renewable energy by 22%. KarmSolar has signed a deal with El Badr for Investment and Commercial Spaces to generate and distribute solar power to Arkan Plaza, one of its developments in El Sheikh Zayed. This project will be implemented by KarmPower – a subsidiary of KarmSolar that invests in private solar Power Purchase Agreements (PPAs) – with a total pipeline of committed projects of 65 megawatts to be implemented before the end of 2019. “It is our mission to empower our clients; our partnership with a real estate developer like El Badr aims to enable…
KarmSolar, ElBadr for Investment Sign Deal Worth $22 Million for New Solar Power Scheme
June 10, 2018
