Cairo -  Marakez, a mixed-use real estate developer in Egypt, has inked an agreement with KarmSolar, Egypt’s solar energy company, to distribute 22 megawatts (MW) of power in District Five area (D5M) in East Cairo.

KarmSolar will invest in D5M’s electricity infrastructure, besides handling the operation and maintenance of the development’s internal electricity grid, according to a press release.

In addition, the solar energy company will be responsible for the billing and payment collection for D5M tenants.

KarmSolar will also carry out a 1.7 MWp solar station on the site to supply D5M with green renewable energy, aiming to expand its solar capacity to run the entire project with eco-friendly power by 2027.

Basil Ramzy, CEO of Marakez, said: “We are looking forward to establishing a progressive partnership with KarmSolar as we target clean energy for our projects.”

Ahmed Zahran, Co-Founder and CEO of KarmSolar, noted: “D5M is an important milestone for the KarmSolar urban power distribution program, as it will be the pinnacle of our expansion in East Cairo.”

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