Banque Misr Provides EGP 70 Million for Cairo 3A Solar Project Expansion in Egypt
Banque Misr has committed EGP 70 million in financing to Venus, a Karm Holding subsidiary, for the expansion of the Cairo 3A solar energy project. This brings the bank's total investment in the project to EGP 154 million. The project aims to provide reliable off-grid electricity for the poultry industry through a hybrid system combining solar, battery storage, and backup generators, with completion expected by 2026, increasing solar capacity to 4.5 MWp.
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Banque Misr has announced EGP 70 million in financing for the expansion of the Cairo 3A solar energy project, raising its total investment to EGP 154 million. The project, initiated in 2020, aims to provide off-grid energy solutions for the poultry industry.
It combines solar photovoltaic technology, battery storage, and diesel generators to ensure stable electricity supply. The second phase is set for completion by 2026, increasing the solar capacity to 4.5 MWp and system capacity to 5.5 MVA, representing an 83% expansion. The project reduces reliance on diesel and supports environmental sustainability.
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