- The charging stations will have the capacity to charge 2 to 6 vehicles simultaneously.
- The company plans to invest about $19 million in the construction of these stations.
- This investment is in line with the Egyptian government’s policy on electric mobility.
Infinity-E, the subsidiary of Egyptian renewable energy developer Infinity Solar is set to invest E£ 300 million ($19 million) in boosting Egypt’s electric vehicle charging capacity. The company plans to construct 300 electric vehicle charging stations across Egypt in line with the government’s electric mobility policy.
This year, the company intends to invest E£ 120 million (over $7.6 million) to construct 100 recharging stations in several major Egyptian cities. According to the company, the stations will be fitted with EVBox, a Dutch charging station and charging management software. The stations will have the capacity to charge about 2 to 6 vehicles at the same time.
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With the European Bank for Reconstruction and Development (EBRD) announcing a $60m equity stake in the company in 2019, Infinity Solar looks set to finance such a project. Infinity-E already has 150 charging terminals in 40 EV charging stations across Egypt.
This move is geared towards the government’s policy in favour of electric mobility. The Egyptian government has recently approved a proposal for a group of companies that aims to replace tricycles with electric vehicles. Under this proposal, the companies intend to build 1,000 charging stations across Egypt.