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KarmSolar signs PPA with agrofood producer in Egypt

Solar panels. Source: EBRD (www.ebrd.com).

October 3 (Renewables Now) - Egyptian off-grid solar energy integrator KarmSolar has sealed power purchase agreements (PPAs) for two solar plants with a combined capacity of 23.5 MW, it announced.

The company will be selling the output of the solar parks to Dakahlia Group subsidiaries Dakahlia South Valley Poultry and Dakahlia Wadi El Natroun Agriculture, helping them meet 75% of their energy consumption over a period of 30 years.

The two solar plants will be built in Menya and Wadi Natroun for a total cost of USD 23 million (EUR 19.6m). The Menya site is a breeder farms complex with 100 half-acre poultry sheds.

According to KarmSolar, this is the largest ever private PPA in Egypt. “KarmPower, our subsidiary, is going to become through this deal the largest private sector solar energy provider in the country. Not only that, but it will provide the power at a lower cost than the government,” said Ahmed Zahran, CEO and co-founder of KarmSolar.

(USD 1.0 = EUR 0.851)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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