Intro Group subsidiary to inaugurate first phase of 40 MW solar facility in Sharm El Sheikh under phase one of FiT

EXCLUSIVE- Intro Group subsidiary to inaugurate first phase of 40 MW solar facility in Sharm El Sheikh under FiT Phase I: Intro Group, the private Egyptian conglomerate with holdings including oil and gas driller Ades (LON: ADES), exploration and production company NPC , real estate developer M2 Developments, and bakery chain TBS, will inaugurate the first 5 MW phase of what will become a 40 MW solar power generation facility in Sharm El Sheikh. The first 5 MW will come online under the first phase of the national feed-in tariff system for solar energy. Intro Energy is the developer of the facility, with Gila Electric as co-developer and Schneider Electric as equipment and technical assistance provider. Intro is in the final stage of lining up a leading development partner for the remaining 35 MW of capacity, which it hopes to sell under a long-term power purchase agreement with a private off-taker.