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Farafra Solar Grid project in Egypt that will primarily benefit the agriculture sector in the Farafra region has been launched. This is according to Egypt-based solar power company, KarmSolar.
The facility will be the company’s second solar grid solution in the North African country. It is expected to significantly decrease the use of diesel generator installations in the region and the country, in an effort to lower energy prices and lessen carbon impact.
Phase 1 of the project, according to the company, consists of a 4 MWh/1MW solar battery storage system. As well as 3.7 MVA diesel generators, and a 3.4 MWp solar PV plant. The new project is expected to have a 60% solar penetration, with a target of 100% in three years.
Furthermore, according to KarmSolar, the new grid would include solar PV panels, battery storage as well as diesel engines in a centralized configuration. This will make the Farafra solar grid project in Egypt the first microgrid solution of its sort. The new solar project is expected to become fully operational by Q3 2023.
Ahmed Zahran, Co-Founder and CEO of KarmSolar, said, “The kickoff of the Farafra Solar Grid enables us ealize our goal of bringing dependable, affordable solar energy to remote areas of the nation. Additionally, it is incredibly encouraging to see organizations like HSBC ready to direct their attention and confidence toward funding unconventional projects like the Farafra Solar Grid.”
The MENA region’s startup ecosystem is led by Egypt. According to data platform Magnitt, Egypt managed to surpass the total funds received in 2021 despite the 2022 worldwide financing crunch, recording a 205% YoY gain from the year before. Fintech received the majority of funding.
But cleantech is still seen as a promising emerging market by investors like British International Investments. Which invested $100 in local startups to support the nation’s green growth, and Egypt. Which started the ClimateTech Run competition at COP27, which offered up to $100,000 in prizes for startup finalists. |
