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Thursday, 6 April 2017

Al Hokair to invest USD 100 mn in solar energy projects this year

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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