Al-Shorouk Newspaper – Cairo Solar Competes for 15 Solar Energy Projects with Investments of EGP 7.5 Million – June 13, 2017

Cairo Solar Competes for 15 Solar Energy Projects with Investments of EGP 7.5 Million

Cairo Solar, a solar energy company, is competing to implement 15 solar energy projects in the local market, each with a capacity of 20 kW and a total investment of EGP 7.5 million, according to the company’s Managing Director, Hatem Tawfik.

Tawfik told Mal & Aamal – Al-Shorouk that the company has successfully installed 30 solar power stations with a total capacity of 600 kW over the past years.

He added that 10 solar power stations have been installed on top of fuel stations to operate them with solar energy, in addition to the installation of solar stations for home lighting.

The company is currently working on installing two solar power stations in New Cairo’s Fifth Settlement with a total capacity of 50 kW, and the projects are expected to be completed within the next two months.

Tawfik also stated that the company aims to enter negotiations with the winners of the 1.5 million feddan land reclamation project to install solar energy stations that will operate the wells used for irrigation.

In a related context, he urged the government to support renewable energy companies by offering banking facilities, including low-interest loans, to help these companies grow.

He emphasized that expanding renewable energy projects would ease pressure on electricity grids, reducing fuel consumption, which is currently imported using foreign currency.

Cairo Solar has been operating in the local market since 2014 with a capital of EGP 5 million.