Cairo – Mubasher: Infinity Solar, a subsidiary of Egypt's private equity firm B Investments Holdings, has tied up the 30-megawatt solar power plant “MMID” to the national electricity grid.
The renewable energy developer has started the trial and test operations and is set to be fully operated within 45 days, B Investments said in a statement to the Egyptian Exchange (EGX) on Tuesday.
This comes within the framework of the second phase of the feed-in tariff project, the Cairo-based private equity firm indicated.
Infinity Solar will also link the 500-megawatt solar plant “Bseb” to the national electricity network in 10 days prior to the end of December, the company added.
The company will link the 50-megawatt plant “Phoenix” with the national grid as well, B Investments said, pointing out that all projects of the second phase of the feed-in tariff programme were completed.
B Investments previously posted a 52.8% year-on-year rise in consolidated profits for the first nine months of 2018.
Net profit stood at EGP 147.84 million in the nine-month period ended September, compared to EGP 96.75 million in the year-ago period, including minority shareholders’ rights.
