Cairo Solar seizes the implementation of 3 solar energy plants

Cairo Solar, a company specializing in solar energy, has secured three solar energy projects with a total capacity of 520 kW for several factories and land reclamation projects within the state’s initiatives.

Hatem Tawfik, the company’s Managing Director, revealed in statements to Al-Mal that the total cost of the three projects amounts to approximately EGP 6 million, all for the private sector. The projects use photovoltaic cell technology, which generates solar power through solar panels that convert sunlight into electricity.

He added that the first project involves the establishment of a 260 kW solar power station for Glid, an electric motorcycle factory, with an investment of approximately EGP 2.7 million. The project was implemented on the factory's rooftop using Suntech brand Chinese solar panels.

The second project includes the construction of a 110 kW solar power station for Bahia for Agricultural Reclamation in West Minya, with an investment of around EGP 1.6 million. The implementation has already begun and is expected to be completed by February.

The third project is a 150 kW solar power station for the Kempinski Soma Bay hotel, with an investment of approximately EGP 1.7 million. The station is scheduled for completion by March and will use Chinese-made photovoltaic solar panels.

Cairo Solar had previously aimed to achieve a business volume of EGP 40 million in 2020, an increase of EGP 15 million compared to 2019, which recorded EGP 25 million.

Tawfik pointed out that the cost of producing one kilowatt ranges between EGP 10,000 and 12,000. He also noted that the project provides energy savings of 30% to 40% annually and has a lifespan of 25 years, allowing project owners to benefit from the energy for 20 years without additional costs after recovering their investment.

The Ministry of Electricity and Renewable Energy has exempted solar energy projects ranging from 1 kW to 500 kW from integration fees into the national electricity grid. The integration fee is a charge imposed on customers who install solar power stations in their homes or factories under the net metering system, which allows subscribers to install a solar power station and agree with their electricity distribution company to purchase the generated energy.