EDF invests in KarmSolar
EDF Renewables will enter into a strategic partnership in the development of distributed solar in Egypt. As part of this partnership, EDF Renewables will inject capital to take a strategic equity stake in KarmSolar, through a reserved capital increase.
This investment will allow KarmSolar to implement its development plan in the country. It consists in expanding its portfolio of solar plants providing power to commercial, agricultural and industrial clients through Power Purchase Agreements (PPAs) or distribution contracts.
KarmSolar currently holds a portfolio in Egypt close to 170 MW of solar PV plant projects in operations, under construction and advanced development. These solar projects take part in the Egyptian government’s target of generating 42% of its electricity from renewable sources by 2035.
KarmSolar is a leading player in the emerging solar Independent Power Producer market in Egypt. The company secures PPAs and solar distribution contracts with large commercial, agricultural and industrial clients.
Country updates
-
-
November 05, 2019
ENGIE Africa consortium commissions 262.5 MW Ras Ghareb wind farm in the Gulf of Suez
ENGIE Africa has commissioned the 262.5 MW Ras Ghareb wind farm in Egypt. The wind farm is now fully connected to the grid and is ready for commercial operation at maximum capacity. The project compa...
Read more -
October 30, 2019
Acwa Power signs the power purchase agreement for the 200 MW Kom Ombo PV plant in Egypt
ACWA Power signs a Power Purchase Agreement (PPA) with the Government of Egypt to develop, finance, construct and operate the Kom Ombo photovoltaic plant, which will yield a capacity of 200 MW. The si...
Read more -
October 21, 2019
Siemens to provide turbines for 250MW wind project in Egypt
Siemens Gamesa will install 96 SG 2.6-114 turbines for the 250 MW West Bakr Wind project which is owned by Lekela through a turnkey EPC contract and will provide long term maintenance through a 15-yea...
Read more -
October 16, 2019
Scatec Solar and partners complete 390 MW solar portfolio of the 1.8 GW Benban solar complex
Scatec Solar and partners have grid connected the last of the six 65 MW solar power plants in Egypt. This marks the completion of the 390 MW Benban solar project located near Aswan in Upper Egypt. The...
Read more -
October 11, 2019
Voltalia starts the commercial operation of 32 MW Ra solar project in Egypt
Voltalia has announced that it has started the commercial operation of Râ Solar, a 32 MW solar power plant located in the Benban complex, in the Aswan region. The project will benefit from a 25...
Read more
