Infinity Solar will complete the construction of solar power stations in the second phase of the feed-in tariff projects with a capacity of 130 MW in the first quarter of 2019.
Human Resources Director Hisham El Gamal said that the company managed to secure 85% of the cost of the project through a German bank and agreed with the Arab African International Bank to finance the local component of the project.
He pointed out that the station will be implemented in cooperation with the German company ib vogt.
Infinity inaugurated the first 50 MW power station in Benban, Aswan as part of the first phase of the solar energy feed-in tariff projects. The plant’s capacity was connected to the national electricity grid. The project was opened by Mohamed Shaker, minister of electricity and renewable energy.
Infinity Solar’s Investment Manager Taymor Aboul Kheir said that the company will focus on the solar energy projects within the second phase of the feed-in tariff projects, with plans to agree with factories and banks to establish new small-scale power plants with capacities between 3 MW and 500 MW.
He stressed that international financial institutions’ demand for solar energy projects came after they proved their attractiveness and strength in contribute to the development of society and achieving the government’s goal to produce 20% of energy from renewable sources by 2022.
He explained that solar projects in Benban will eliminate unemployment permanently, through direct and indirect jobs during the construction and operation of projects, especially since all workers will be from Aswan, except for a number of engineers and technicians belonging to each company.