Tawfik: "The 1.5 Million Feddan Project" Will Achieve a Boom in Solar Energy Projects
Omar Salem and Mohamed Fathy
Hesham Tawfik, Chairman of Cairo Solar, stated that the financial closure process for renewable energy projects is "extremely complex" due to the fact that 75% of the project components are foreign, while the remaining percentage consists of local components, which poses risks for the entities involved in these projects.
Speaking at the "Dialogue with the Government" conference organized by Al-Mal GTM, Tawfik added that the company has made efforts to avoid the stock market due to current circumstances, despite it being a good financing tool, as the energy sector attracts investments due to its continuous returns.
Tawfik emphasized the need to encourage the sale of renewable energy to factories to help solve their energy supply issues, highlighting that the "1.5 Million Feddan" project will bring a significant boom to solar energy projects.
