Egypt: IRSC, Arabian Cement sign landmark clean energy power purchase agreement
This agreement marks a major step towards cleaner energy in Egypt's industrial sector, as IRSC will provide ACC with reliable and cost-effective electricity generated from renewable sources.
As part of the agreement, IRSC will oversee the development, financing, construction, ownership, and operation of the second phase of ACC's solar power plant. This solar system will allow ACC to access sustainable energy without the need for upfront capital investment, helping the company reduce operational costs while meeting its sustainability goals.
IRSC will be responsible for all aspects of the project, including financing, installation, and ongoing maintenance, ensuring optimal performance throughout the life of the agreement. This collaboration highlights ACC's commitment to reducing its carbon footprint and aligning its operations with global environmental standards.
Andrew Daniel, Chairperson of IRSC, expressed his enthusiasm for the partnership, saying: 'This long-term collaboration demonstrates our shared commitment to sustainability and clean energy. IRSC is dedicated to providing reliable, renewable solutions that not only help businesses cut operational costs but also contribute significantly to Egypt's green energy transition.'
Sergio Alcántarilla, CEO of Arabian Cement Company, stated: 'By adopting renewable energy, we are reinforcing our position as an environmentally responsible company, while securing predictable and sustainable energy costs. This agreement represents a key milestone in ACC's commitment to environmental stewardship and energy efficiency.'
The 17.6 MWp solar plant is expected to generate around 32.5 GWh of electricity annually, reducing ACC's environmental impact and increasing its energy independence. This move towards renewable energy underscores the growing shift in Egypt's industrial sector toward more sustainable practices.
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