Jan 17 2019
Arabian Cement Company has signed an agreement with Solariz Egypt for the setting up of a solar photovoltaic (PV) energy plant at its plant in Suez Governorate.
Funded by Qatar National Bank Al Ahli, the solar plant will be the first in Egypt to power a #cement plant. The construction of the project is expected to commence in the second quarter of 2019,
Arabian Cement’s CEO Sergio Alcantarilla said. The projected solar plant will be located on up to 96,000 square metres.
Solariz Egypt is a certified company that has been financing, designing, installing and commissioning PV solar power plants across Egypt since 2013. The project, to be implemented on a Build Own Operate Transfer (BOOT) model, is being financed by QNB AlAhli under the EBRD-Green Economy Program.
As per the deal, SolarizEgypt will be responsible for the construction and operation of the unit for the period of 25 years, stated Sergio Alcantarilla, the chief executive of ACC after signing the agreement with Yaseen Abdel Ghaffar, the founder and managing director of SolarizEgypt. $5.56 million, the solar energy unit is expected to generate over 14 GW hours year; producing up to 4% of the total power supply of ACC’s plant for 25 years