Bahrain’s Terra Sola inks USD3.5b Egypt solar project deal

22 Mar 2015

(MENAFN) Bahrain-headquartered Terra Sola Ventures (Terra Sola) signed an MoU with the Egyptian Electricity Holding Company (EEHC) for a USD3.5 billion project to develop 2,000MW of solar energy in Egypt, Arabian Business reported.

The MoU confirms a mutually agreed plan for the development and implementation of the project which also includes the set-up of two European-technology manufacturing units for the production of photovoltaic modules and inverters.

Terra Sola is a part of consortium which also comprises Terra Nex Financial Engineering, a Swiss wealth management company that specializes in asset management and venture capital activities, a statement said.

“When we founded the company in 2010 in Bahrain, the idea was to build a MENA-wide business that traverses boundaries but is based in a stable financial environment,” the chairman of Terra Sola said in a statement.

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