Saudi’s Al Hokair Group is planning to invest USD 100 mn in Egypt’s solar power sector this year, Al Borsa reports. Cabinet has approved Al Hokair subsidiary FAS Energy’s financial model for a 50 MW solar station it is proposing to build under phase one of the feed-in tariff program, FAS Energy CEO Sabri Asfour tells the newspaper. Al Hokair will fund 85% of the project and is seeking financing from an Egyptian bank for the balance.

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