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Korra Energi and SolarizEgypt are teaming up to implement USD 50 mn solar energy projects with a combined capacity of 100 MW, focusing on the tourism and industrial sectors, according to a statement (pdf) released last week. The projects will focus on tourism and the industrial sector, particularly energy-intensive sectors like fertilizers, petrochemicals, and building materials — key players in export industries preparing for Europe’s incoming Carbon Border Adjustment Measures in 2026.
What we know so far: The first project under the agreement is an engineering, construction, and operation 25-year project that will see the companies install 4.8 MW of solar in Sahl Hasheesh. Energy from the first phase will go toward powering a hotel complex’s direct consumption, while the second phase will focus on powering a desalination plant that benefits the broader area. No further details have been disclosed about the remaining projects’ capacities or their timelines.
Regional expansions also on the cards: The energy firm has begun the procedures to expand into the Saudi and Iraqi markets, chairman Ayman Korra told Asharq Business (watch, runtime: 4:02) last week. Expanding into the Omani market is also in the mix, he added.
About Korra Energi: The 25-year-old company has been active in waste-to-energy efforts in Egypt, inaugurating the country’s first waste-to-energy facility to repurpose waste from power plants and flare gas projects. Korra is also preparing for an IPO, with plans to list up to 20% of its shares on the EGX in 1H 2025. There is no word yet on how much the company hopes to raise in the offering.
