Banque Misr Boosts Egypt’s Solar Sector With EGP 70 Million Financing For Cairo 3A Hybrid Solar Project Expansion

Banque Misr has announced a new financial commitment to support the growth of renewable energy in Egypt. The bank has provided EGP 70 million in Shariah-compliant financing to Venus, a subsidiary of Karm Holding, to expand the Cairo 3A solar energy project. With this latest funding, Banque Misr’s total investment in the project has now reached EGP 154 million. The move highlights the bank’s continued interest in supporting sustainable energy projects and helping businesses adopt cleaner power solutions.

The Cairo 3A project is designed as an off-grid energy system that serves the poultry industry. Many poultry farms in rural or agricultural areas face difficulties due to unstable electricity supply or lack of access to the national power grid. These facilities require a continuous and reliable supply of electricity to maintain operations, control temperature, and ensure proper conditions for poultry production. The Cairo 3A project addresses this challenge through a hybrid energy system.

The project combines solar photovoltaic technology with battery energy storage and backup diesel generators. This combination allows the system to provide stable electricity even when solar production is low or when there are fluctuations in energy demand. The solar panels generate clean electricity during the day, while batteries store excess energy for use at night or during cloudy periods. Backup generators are used only when necessary, ensuring an uninterrupted power supply for the poultry facilities.

The first phase of the Cairo 3A project was launched in 2020. During this stage, the system was developed with a capacity of 3 MVA and a solar generation capacity of 2.5 MWp. This initial phase established the foundation for reliable off-grid power for agricultural operations in the region.

The new financing from Banque Misr will support the second phase of the project, which is expected to be completed by 2026. Once the expansion is finished, the total solar capacity will increase to 4.5 MWp and the system capacity will reach 5.5 MVA. This represents a significant expansion of around 83 percent compared to the original capacity. The upgrade will allow the project to meet growing electricity demand from the poultry industry and nearby agricultural activities.

The project also supports environmental sustainability by reducing the dependence on diesel fuel and lowering carbon emissions. Using solar energy and battery storage helps reduce operating costs and improves energy reliability for businesses operating in remote areas.

For Karm Holding, the funding marks an important step in strengthening its partnership with the Egyptian banking sector. The Cairo 3A project also demonstrates how hybrid solar and storage systems can provide practical off-grid energy solutions for industries that require continuous and stable power supply.