- The Egyptian Electricity Utilities Regulatory and Consumer Protection Agency (EgyptERA) has approved a 7.5 MW solar photovoltaic power plant in the Suez.
- Local IPP, SolarizEgypt will build, own and operate the plant which will service the energy needs of the Arabian Cement Company under a 25 year Power Purchase Agreement (PPA).
- The project is financed by QNB ALAHLI through the European Bank for Reconstruction and Development’s (EBRD),
The 7.5 MW plant will offset approximately 4% of the electricity use by Arabian Cement Company facilities. Apart from the cost savings, the company also says that the project will as well reduce the environmental impact of its facilities.
Furthermore, Arabian Cement Company sees the initiative as part of the Egyptian government’s strategy to achieve 20% of the country’s electricity supply from renewable sources by the end of this year.
Author: Bryan Groenendaal