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Tuesday, 5 December 2017

Renewable energy companies plan expansion and CAPEX growth in 2018

A number of renewable energy companies have announced plans to increase their investments in 2018 and expand regionally, Al Mal reports. Desert Technologies appears to be spending the most out of the three who spoke to the newspaper. The company plans to spend EGP 1.8 bn in 2018 on three new projects, said the company’s head of project management Mohamed El Dely. The company is also exploring expanding in the GCC and Africa, he added. Africa Solar Energy Services plans to quadruple its business in Egypt next year to EGP 500 mn, said its CEO Ahmed Hamdy. The company is also planning an Africa expansion. Meanwhile, Cairo Solar plans to grow its business sixfold to EGP 75 mn, according to board member Hatem Tawfik.

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