Solariz Egypt is preparing to complete generating 40 MW solar power plants at the end of next month, its co-founder and managing director said on Sunday.
“We started executing the plants last July, with an investment cost approaching 600 million Egyptian pounds ($35 million),” Yaseen Abdel-Ghaffar further told Amwal Al Ghad.
Moreover, Solariz Egypt seeks to implement new solar power plants within the financial year 2018/2018 in favour commercial and industrial clients, along with homes, at capacities of 40 MW, Abdel-Ghaffar added.
The new plants will be financed by a number of banks, including Egypt-based Arab African International Bank (AAIB) and Qatar National Bank (QNB), the Middle East’s largest lender by assets, he said.
Also, the company plans to implement other 100 MW solar power plants within the current year, he said.
