In Egypt KarmSolar finalized a power purchase agreement (PPA) for two solar plants with subsidiaries of the Dakahlia Group. The two solar projects will have a combined capacity of 23.5 MWs and will cost $23 million.The plants will be located in Minya and Wadi Natroun.
KarmSolar claims the PPA was the largest of its kind signed in the country.“This is a critical milestone in the brief history of KarmSolar. 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,” KarmSolar’s CEO and co-founder, Ahmed Zahran, said while speaking to the press.