Global Infrastructure SherpaBanque Misr provides EGP 70 million financing for Cairo 3A hybrid solar project expansion
Banque Misr has committed EGP 70 million in financing for the expansion of the Cairo 3A hybrid solar energy project, which has a total investment of EGP 154 million. This financing aims to support the project's second phase, increasing its capacity by 83 percent to provide reliable off-grid power for the poultry industry in Egypt.
Counterparts (2)
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The financing is 'Shariah-compliant financing'. The project is an 'off-grid energy system' that 'serves the poultry industry'. 'With this latest funding, Banque Misr’s total investment in the project has now reached EGP 154 million'. The expansion represents 'a significant expansion of around 83 percent compared to the original capacity'. The first phase of the project was launched in 2020 with a system capacity of '3 MVA and a solar generation capacity of 2.5 MWp'. After expansion, the system capacity will reach '5.5 MVA'.
"Banque Misr has provided EGP 70 million in Shariah-compliant financing"
"to Venus, a subsidiary of Karm Holding, to expand the Cairo 3A solar energy project."
"to Venus, a subsidiary of Karm Holding, to expand the Cairo 3A solar energy project."
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