Cairo Solar to implement 2.5 MW of projects in 2017 – 15 December 2016
Cairo Solar is targeting to implement projects generating 2.5 MW of energy in 2017, quadrupling its 2016 output, Al Mal reported. 2.5 MW target is its baseline scenario, but that it has 10 MW worth of projects in its pipeline. Cairo Solar is looking to implement 100 small-scale solar power plants to be used for land irrigation. CEO Hisham Tawfik said the profit margin on installing solar power plants has dropped to 12.5% from 16% after 1H2016 due to the FX rate and as interest rates increased. Tawfik also said the government should move away from the solar power sector to allow the private sector to grow and become more competitive.