{"id":75524,"date":"2023-01-11T02:00:41","date_gmt":"2023-01-11T02:00:41","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/01\/11\/egypts-karmsolar-gets-funding-from-hsbc-for-western-desert-microgrid\/"},"modified":"2023-01-11T02:00:41","modified_gmt":"2023-01-11T02:00:41","slug":"egypts-karmsolar-gets-funding-from-hsbc-for-western-desert-microgrid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/01\/11\/egypts-karmsolar-gets-funding-from-hsbc-for-western-desert-microgrid\/","title":{"rendered":"Egypt\u2019s KarmSolar gets funding from HSBC for Western Desert microgrid"},"content":{"rendered":"

<\/a> Egypt\u2019s<\/strong> KarmSolar secures funding for new microgrid: <\/strong>Egypt\u2019s cleantech firm and electricity distributor KarmSolar has secured a EGP 83 mn (USD 3 mn) loan from HSBC for the first phase of its new Farafra solar grid in the Western Desert, according to a statement (pdf)<\/a>. Egypt-based debt advisory firm Ezdaher Financial Advisory<\/a> consulted on the project, the statement noted.<\/p>\n

What do we know about the Farafra solar grid project?<\/strong> The project will generate solar energy, store it using a battery storage system, and supplement it with diesel power where needed \u2014 all in a centralized location, operating under a usufruct agreement<\/a> \u2014 and then distribute the electricity to a variety of offtakers, the statement notes. It is expected to be fully operational by 3Q 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s KarmSolar secures funding for new microgrid: Egypt\u2019s cleantech firm and electricity distributor KarmSolar has secured a EGP 83 mn (USD 3 mn) loan from HSBC for the first phase of its new Farafra solar grid in the Western Desert, according to a statement (pdf). Egypt-based debt advisory firm Ezdaher Financial Advisory consulted on the […]<\/p>\n","protected":false},"author":1,"featured_media":75525,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,11,679,1424,94],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-karmsolar","tag-microgrid","tag-solar","wpautop","entry"],"acf":{"mongo_id":"f8df5b73-1a01-4712-8433-32e4eb8701cd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/497.jpg","photo_position":"above","related_issue":[75513],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s KarmSolar gets funding from HSBC for Western Desert microgrid - Climate<\/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:\/\/enterpriseam.com\/climate\/2023\/01\/11\/egypts-karmsolar-gets-funding-from-hsbc-for-western-desert-microgrid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s KarmSolar gets funding from HSBC for Western Desert microgrid\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s KarmSolar secures funding for new microgrid: Egypt\u2019s cleantech firm and electricity distributor KarmSolar has secured a EGP 83 mn (USD 3 mn) loan from HSBC for the first phase of its new Farafra solar grid in the Western Desert, according to a statement (pdf). 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