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EDF Renewables Takes Stake in KarmSolar in Egypt

Power News - Published on Thu, 28 Nov 2019

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EDF Group renewable energy subsidiary EDF Renewables and KarmSolar will enter into a strategic partnership in the development of distributed solar in Egypt. As part of this partnership, EDF Renewables will inject capital to take a strategic equity stake in KarmSolar, through a reserved capital increase. This investment will allow KarmSolar to implement its ambitious development plan in the country. It consists in expanding its portfolio of solar plants providing power to commercial, agricultural and industrial clients through Power Purchase Agreements or distribution contracts.

This investment contributes to EDF Group’s goal under the CAP 2030 strategy of doubling its renewable energy capacity worldwide to 50 GW net between 2015 and 2030.

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Posted By : Rabi Wangkhem on Thu, 28 Nov 2019
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