Electrolux has signed an agreement with SolarizEgypt to develop a solar power plant at the latter’s factory, according to an emailed press release on July 24th.

The energy to be generated from the solar power plant will be used in the production of washing machines, refrigerators, Delta electric water heaters, and stoves.

The signed agreement comes in line with the Egyptian government’s efforts to transform to clean energy and attain long-term sustainable development.

“This agreement complements our company’s efforts in transitioning into a more sustainable facility. Thus, implementing solar power plants for clean and renewable energy is an appropriate solution to achieve our goal,” Maysam El Hennawy, CEO of Electrolux Egypt, said.

“Under this agreement, Electrolux will continue to support Egypt’s Vision 2030, which encourages the use of renewable energy sources, and environmental sustainability measures. Despite the initial high costs of investing in the solar power plants, the government is projected to subsidize it in the future, and it will reduce the company’s consumption by around 17%,” El Hennawy added.

The deal comprises phases, of which the first will include the installation of 1 megawatt in the Delta factory and 0.5 megawatts in the stoves factory, and the second phase that will cover the installation of more megawatts.

This project builds on Electrolux’s vision to reach zero-carbon emissions from its factories and sites by 2030.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).