Largest private power purchase agreement (PPA) in Egypt to generate 23.5MW for 30 years
Cairo, Egypt - KarmSolar, the fastest growing solar technology company in Egypt, has signed a deal with Dakahlia Group subsidiaries Dakahlia South Valley Poultry and Dakahlia Wadi El Natroun Agriculture, to provide 75% of their energy needs over 30 years through two stations in Menia and Wadi Natroun that will be built with an investment of US$23 million and will generate 23.5MegaWatts of electricity, making this the largest ever private power purchase agreement (PPA) signed in Egypt.
Ahmed Zahran, CEO and co-founder, KarmSolar said: “This is a critical milestone in the brief history of KarmSolar. KarmPower, our subsidiary, is going to become through this deal the largest private sector solar energy provider in the country. Not only that, but it will provide the power at a lower cost than the government.”
The land area of the two stations in Menya and Wadi Natroun will add up to approximately 85 feddans (360,000 square meters). The Menya site is a breeder farms complex with 100 half-acre poultry sheds, housing 1.1 million breeder chickens, producing 140 million 1-day-old chicks.
Khaled Al Anani, CEO of Dakahlia Agricultural Development Co.and Vice chairman of Dakhalia Group, said: “As one of the largest agrofood producers and exporters in Egypt, our energy needs, and by default, energy costs, have critical business impact. We export to over 40 countries around the world, citrus and more. “
This project will be implemented by KarmPower, the subsidiary of KarmSolar responsible for the Engineering, Procurement and Construction (EPC) of solar projects including turnkey and power purchase agreement solutions. Its portfolio includes Juhayna, Fridal, EFG Hermes, Taziry Eco Lodge (Siwa) and Oasis and Red Sea Diver’s Lodge (Marsa Allam).
About KarmSolar
KarmSolar is a solar technology and integration company that delivers innovative solar solutions to the agricultural, industrial, tourism and business sectors. Since its founding in 2011, KarmSolar has been Egypt’s largest private off-grid solar energy integrator, with exceptional experience in developing its award winning high-capacity solar pumping stations, including the region’s largest off-grid Hybrid Pumping & Irrigation System (147 kW). KarmSolar also offers MW-scale off-grid solar energy stations and grid-connected utility-scale installations. Committed to R&D and innovation, our goal is to commercialise sustainability, enabling businesses to gain from an increase in productivity whilst benefiting from, and protecting, the environment.
About Dakahlia Group
Dakahlia Group is comprised of five major sectors: Poultry, commodities trade, agriculture, agrochemicals and food processing. The Egyptian businesses of Dakahlia Group are comprised of 14 companies
Over the past 35 years Dakahlia Poultry has risen steadily from a small poultry company to one of the largest agrobusiness companies in the country, working in the fields of commodities trade, feed production, poultry production, retail food products, agricultural land development, produce export, veterinary pharmaceuticals and agrochemicals.
Dakahlia Poultry, founded in 1981, is one of the largest regional players in the poultry industry. The company operates across a large part of the poultry production value chain, and are the Egyptian industry’s leader in many of these segments. Dakahlia operates in parent-stock breeders, hatcheries, broilers, poultry processing, feed production, commodities trade, and veterinary inputs trade.
Dakahlia Agricultural Development Company operates across segments of agricultural production, starting with land development and infrastructure, to producing and sourcing quality planting material, to agricultural operations, to packing and export. Operating in five sites across the country, with a combined area exceeding 20,000 acres, Dakahlia Agriculture provides quality produce that is exported to 43 different countries across Western and Eastern Europe, the Arabian Gulf, Africa, the Russian Federation and Former Soviet Union countries, South East Asia, the Far East, and recently Australia and Canada. Dakahlia Agriculture has achieved international certification for quality, food safety, ethical trade, and occupational health and safety standards, to name a few.
© Press Release 2017
