Egyptian solar tech company to sell electricity at cheaper prices

CAIRO - 6 July 2017: Egyptian solar technology and integration company KarmSolar is set to sell electricity, produced from solar energy, to factories and other buildings connected to the national grid at cheaper prices from those provided by the government, Co-founder of the company Ahmed Zahran said in a Facebook post this week.

He said that three new plants will be set up to sell electricity at reduced prices in Cairo before the end of this year. One of the plants will be located in Mazar mall in Sheikh Zayed area in 6 October city, which will generate electricity to the mall as well as two factories.

The company aims to provide electricity to consumers who are suffering from high prices of energy, Zahran said, adding that the new stations are able to operate up to 25 years and consume less energy.

As part of Egypt’s economic reform program that include slashing subsidies, prices of electricity will increase in August. The increases will be between 15-36 percent depending on the consumption bracket, the Ministry of Electricity announced on Thursday.

Karm Solar was founded in 2011 as Egypt’s largest private solar energy integrator, aiming to provide innovative solar solution to the agricultural, industrial, tourism, and business sectors. The company has previously developed the region’s largest off-grid (solar-diesel) water pumping station (147 kW), according to the company’s official profile.