Karm Holding’s Venus Secures EGP 70 Million Sharia-Compliant Financing from Banque Misr to Expand Cairo 3A Energy Project
Karm Holding announced that its subsidiary, Venus, has obtained EGP 70 million in Sharia-compliant financing from Banque Misr to support the expansion of the Cairo 3A project. This brings the total financing secured for the project from the bank to approximately EGP 154 million.
The new financing is aimed at strengthening the project’s energy infrastructure, with a particular focus on developing sustainable energy solutions and ensuring reliable and efficient operations. This is especially important for energy-intensive agricultural activities operating in areas located far from conventional electricity networks.
The Cairo 3A project represents a strategic initiative designed to provide off-grid energy solutions for the poultry sector. It delivers integrated and reliable energy systems that support large-scale production operations. The project relies on a hybrid generation model that combines solar photovoltaic power, battery storage systems, and electric generators, helping improve operational flexibility while reducing dependence on traditional fuel-based electricity sources.
The project’s first phase, launched in 2020, provided a contracted capacity of 3 MVA along with 2.5 MWp of solar energy. With the expansion of farm operations and increasing energy demand, the second phase—expected to be completed in 2026—will increase the total capacity to 5.5 MVA and raise solar generation to 4.5 MWp, representing an 83% growth compared with the first phase.
Karm Holding confirmed that the new financing marks a key milestone in the company’s expansion strategy and reflects the strength of its partnership with Egypt’s banking sector. The company also reiterated its commitment to implementing projects that meet the highest standards of efficiency and sustainability, in line with Egypt’s efforts to build a more resilient and sustainable economy.