KarmSolar for renewable energy is planning on opening and activating Egypt’s first solar-powered electricity station on 25 September. The plant will sell energy to the private sector, namely to Juhayna in Al-Wahat Al-Bahareya, at a capacity of 1MW.
CEO of KarmSolar Ahmed Zahran said that the station’s establishment costs reached EGP 14m, accumulated from the Social Fund for Development and independent investments from KarmSolar.
This station is considered to be the first of its kind in Egypt, saving up to 600,000 liter of diesel a year, and annually avoiding the emission of 1,620 tonnes of carbon dioxide, Zahran said.
Zahran added that KarmSolar was given the licence to directly sell electricity from the Egyptian Electric Utility and Consumer Protection Regulatory Agency. An additional agreement was signed with Juhayna to supply its farms with solar-generated electricity.
The company supports the Ministry of Electricity and Renewable Energy’s feed-in tariff programme, Zahran said, and is committed to the regulatory contract and technical rules which were pre-assigned by the government.
To start another project linking a power plant of 2MW capacity in Hurghada, KarmSolar will finalise the financial transaction before 26 October, Zahran added.
Zahran mentioned that KarmSolar is currently finalising the deals with the Canal Company for Electricity Distribution (CCED), as the latter had agreed to abide by the regulations set by the Ministry of Electricity, including the local arbitration clause.