• Karm Holding signs agreement to develop 500,000 sqm solar project south of Marsa Alam Airport.
• The project will operate off-grid, serving the tourism sector with renewable energy and reduced carbon emissions.
• Egypt pushes for 30% renewable energy by 2030, opening opportunities for public-private clean energy partnerships.

Karm Holding

Karm Holding has kicked off development procedures for a 500 thousand square meter solar power project south of Marsa Alam Airport. The project marks the first phase of a larger 2 million sqm plan, or a new solar power generation project.

The company signed an agreement with the Tourism Development Authority to secure the land. The project will be developed in cooperation with the Tourism Development Authority and the New and Renewable Energy Authority. The first phase is expected to be completed within 36 months, with a planned capacity is up to 40 megawatts. Additionally, it expects to serve multiple clients in the tourism sector.

The project will operate off-grid using a dedicated distribution network and transformer station. This model aims to provide reliable energy supplies to tourism and service projects in the area. Furthermore, it aims to reduce dependence on diesel generators, lowering operating costs and decreasing carbon emissions.

Renewable Energy

The project is also a new precedent by the Tourism Development Authority in allocating land for renewable energy projects under a usufruct model in exchange for a 2% revenue share.

Currently, the company is studying Battery Energy Storage Systems (BESS) to handle fluctuating demand, especially during nighttime peaks.

The company is also exploring opportunities to integrate with Karm Water to support the region’s desalination needs. Ahmed Zahran, CEO of Karm Holding, stated that this project is part of the company’s shift in recent years from Karm Solar to Karm Holding. This shift restructured the company’s role in the energy and infrastructure markets.

Karm Holding now functions as a diversified group, including specialized companies in solar energy. This also includes power generation and distribution, energy storage systems, sustainable infrastructure, and electric vehicle charging solutions.