{"id":8361,"date":"2019-11-25T09:09:51","date_gmt":"2019-11-25T08:09:51","guid":{"rendered":"https:\/\/www.france.edf-powersolutions.com\/?p=8361"},"modified":"2024-01-04T17:29:35","modified_gmt":"2024-01-04T16:29:35","slug":"edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt","status":"publish","type":"communiques","link":"https:\/\/france.edf-powersolutions.com\/en\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/","title":{"rendered":"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt"},"content":{"rendered":"

Cairo \/ Paris 25th November 2019<\/strong><\/p>\n

EDF Renewables, the renewable energy subsidiary of EDF Group and KarmSolar, a developer and supplier of solar power in Egypt, 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 (PPAs) 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.<\/strong><\/p>\n

KarmSolar currently holds a portfolio in Egypt close to 170 MW of solar PV plant projects in operations, under construction and advanced development. These solar projects take part in the Egyptian government's target of generating 42% of its electricity from renewable sources by 2035.<\/p>\n

KarmSolar is a leading player in the emerging solar Independent Power Producer (\u201cIPP\u201d) market in Egypt. The company secures PPAs and solar distribution contracts with large commercial, agricultural and industrial clients.<\/p>\n

For more than 10 years, EDF Renewables has been providing renewables solutions to environmentally-conscious Commercial & Industrial clients such as Microsoft, Procter & Gamble, Kimberly-Clark, Yahoo, Nivea, Danone, Coca Cola, Nestl\u00e9, Wahaha, or Tesco, in the US, France, China and more recently in the United Kingdom.<\/p>\n

Frederic Belloy, Executive VP International Operations for EDF Renewables, said: \u201cWe are delighted to establish this partnership to support Karm Solar in the delivery of its innovative business model. This partnership is fully in line with EDF Renewables strategy to offer relevant solutions helping Commercial & Industrial customers achieving their low carbon ambitions through the production and consumption of a competitive renewable energy. This investment is also in compliance with EDF international strategy, North Africa representing a great potential for development. Following the commissioning of our 130 MWp solar power plants in Benban recently, it further strengthens our long-term development strategy in Egypt.\u201d<\/em><\/p>\n

\u201cThis investment constitutes a new major step to support our growth, and we are confident that EDF Renewables is the right partner to help take KarmSolar to the next phase of its expansion.\u201d<\/em>, said Ahmed Zahran, CEO, KarmSolar. \u201cThroughout our conversations with EDF<\/em>
\nRenewables, it was very clear that they believed in what we want to achieve \u2013 which is to promote renewable energy and to make solar power more accessible.\u201d<\/em><\/p>\n

Amr El Sawaf, Chairman of KarmSolar, said: \u201cThis is a major milestone in the development of our company, that ambitions to propel its expansion forward. EDF Renewables is not only an investor, but a strategic partner whose global expertise will extend KarmSolar's local reach and further increase its technical capabilities. It is envisioned that this investment will also boost the private Egyptian government solar market and thus support the in implementing its vision of becoming a renewable energy hub for the region.\u201d<\/em><\/p>\n

About KarmSolar<\/strong>
\nKarmSolar spearheads the growth of the private solar energy market in Egypt, revolutionizing the solar market through the introduction of innovative and integrated solutions across the residential, industrial, agricultural, commercial and tourist sectors. With unique technical and financial expertise, supported by the company's in-house Research and Development, today KarmSolar leads the Egyptian market with the largest portfolio of private solar energy projects of over 165 MWp.
\nwww.karmsolar.com
\nFor more media inquiries:
\nMaged Ali
\n+2 01023331586
\nmaged.ali@publicistinc.com<\/p>\n

About EDF Renewables<\/strong>
\nEDF Renewables is a leading international player in renewable energies, with gross installed capacity of 12.5 GW worldwide. Its development is mainly focused on wind and solar photovoltaic power. EDF Renewables operates mostly in Europe and North America but is continuing to grow by moving into promising emerging regions such as Brazil, China, India, South Africa and the Middle East. The company has strong positions in offshore wind power, but also in other areas of the renewable energies industry such distributed energy and energy storage. EDF Renewables develops, builds, operates and maintains renewable energies projects, both for itself and for third parties. Most of its international subsidiaries bear the EDF Renewables brand. EDF Renewables is the EDF Group subsidiary specializing in developing solar and wind power.
\nFor more information, visit: www.edf-renewables.com
\nFollow us on LinkedIn and on Twitter (@EDF_RE in French and @EDF_Renewables in English).
\nPress contacts:
\nManon de Cassini-H\u00e9rail \u25aa tel. : +33 (0)1 40 90 48 22 \u25aa email: manon.decassini-herail@edf-en.com
\nDaniel Da Costa \u25aa tel. : +33 (0)1 40 90 22 26 \u25aa email: daniel.dacosta@edf-en.com<\/p>","protected":false},"featured_media":8359,"template":"","country":[103],"annee_cp":[236],"categorie-cp":[1],"etiquette-cp":[],"class_list":["post-8361","communiques","type-communiques","status-publish","has-post-thumbnail","hentry","country-egypt","annee_cp-236","categorie-cp-non-classe"],"acf":[],"yoast_head":"\nEDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt - EDF power solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/france.edf-powersolutions.com\/en\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt - EDF power solutions\" \/>\n<meta property=\"og:description\" content=\"Cairo \/ Paris 25th November 2019 EDF Renewables, the renewable energy subsidiary of EDF Group and KarmSolar, a developer and supplier of solar power in Egypt, 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 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/france.edf-powersolutions.com\/en\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EDF power solutions\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-04T16:29:35+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@EDF_power\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/\",\"url\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/\",\"name\":\"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt - EDF power solutions\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2019-11-25T08:09:51+00:00\",\"dateModified\":\"2024-01-04T16:29:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Communiqu\u00e9s de presse\",\"item\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/communiques\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/#website\",\"url\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/\",\"name\":\"EDF power solutions\",\"description\":\"D\u00e9veloppement d'\u00e9nergie renouvelable\",\"publisher\":{\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/#organization\",\"name\":\"EDF power solutions\",\"url\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/logo_edf_power_solutions_RGB-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/logo_edf_power_solutions_RGB-scaled.jpg\",\"width\":2560,\"height\":1119,\"caption\":\"EDF power solutions\"},\"image\":{\"@id\":\"https:\\\/\\\/france.edf-powersolutions.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/x.com\\\/EDF_power\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/edf-power-solutions\\\/\",\"https:\\\/\\\/www.youtube.com\\\/@EDF_powersolutions\",\"https:\\\/\\\/www.instagram.com\\\/edf_powersolutions\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt - EDF power solutions","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/france.edf-powersolutions.com\/en\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/","og_locale":"en_GB","og_type":"article","og_title":"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt - EDF power solutions","og_description":"Cairo \/ Paris 25th November 2019 EDF Renewables, the renewable energy subsidiary of EDF Group and KarmSolar, a developer and supplier of solar power in Egypt, 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 […]","og_url":"https:\/\/france.edf-powersolutions.com\/en\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/","og_site_name":"EDF power solutions","article_modified_time":"2024-01-04T16:29:35+00:00","twitter_card":"summary_large_image","twitter_site":"@EDF_power","twitter_misc":{"Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/","url":"https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/","name":"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt - EDF power solutions","isPartOf":{"@id":"https:\/\/france.edf-powersolutions.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/#primaryimage"},"image":{"@id":"https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/#primaryimage"},"thumbnailUrl":"","datePublished":"2019-11-25T08:09:51+00:00","dateModified":"2024-01-04T16:29:35+00:00","breadcrumb":{"@id":"https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/france.edf-powersolutions.com\/communiques\/edf-renewables-will-become-a-strategic-shareholder-of-karmsolar-a-developer-and-supplier-of-solar-power-in-egypt\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/france.edf-powersolutions.com\/"},{"@type":"ListItem","position":2,"name":"Communiqu\u00e9s de presse","item":"https:\/\/france.edf-powersolutions.com\/communiques\/"},{"@type":"ListItem","position":3,"name":"EDF Renewables will become a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt"}]},{"@type":"WebSite","@id":"https:\/\/france.edf-powersolutions.com\/#website","url":"https:\/\/france.edf-powersolutions.com\/","name":"EDF power solutions","description":"Development of renewable energy","publisher":{"@id":"https:\/\/france.edf-powersolutions.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/france.edf-powersolutions.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/france.edf-powersolutions.com\/#organization","name":"EDF power solutions","url":"https:\/\/france.edf-powersolutions.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/france.edf-powersolutions.com\/#\/schema\/logo\/image\/","url":"https:\/\/france.edf-powersolutions.com\/wp-content\/uploads\/2023\/07\/logo_edf_power_solutions_RGB-scaled.jpg","contentUrl":"https:\/\/france.edf-powersolutions.com\/wp-content\/uploads\/2023\/07\/logo_edf_power_solutions_RGB-scaled.jpg","width":2560,"height":1119,"caption":"EDF power solutions"},"image":{"@id":"https:\/\/france.edf-powersolutions.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/EDF_power","https:\/\/www.linkedin.com\/company\/edf-power-solutions\/","https:\/\/www.youtube.com\/@EDF_powersolutions","https:\/\/www.instagram.com\/edf_powersolutions"]}]}},"_links":{"self":[{"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/communiques\/8361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/communiques"}],"about":[{"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/types\/communiques"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/media?parent=8361"}],"wp:term":[{"taxonomy":"country","embeddable":true,"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/country?post=8361"},{"taxonomy":"annee_cp","embeddable":true,"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/annee_cp?post=8361"},{"taxonomy":"categorie-cp","embeddable":true,"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/categorie-cp?post=8361"},{"taxonomy":"etiquette-cp","embeddable":true,"href":"https:\/\/france.edf-powersolutions.com\/en\/wp-json\/wp\/v2\/etiquette-cp?post=8361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}