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Arab Finance: Minister of Industry Khaled Hashem met with Andrew Daniel, Chairman of Integrated Renewable and Sustainable Communities (IRSC), to discuss cooperation opportunities to support green transition in the industrial sector and enhance the competitiveness of Egyptian industry by expanding renewable energy solutions and sustainable infrastructure, as per a statement.
Discussions also covered cooperation opportunities in developing industrial microgrids and implementing solar energy projects in existing industrial zones to reduce operating costs, increase productivity, and support new industrial investments.
Hashem said that expanding renewable energy in the industrial sector has become an economic necessity to enhance competitiveness, lower production costs, and reduce reliance on traditional energy sources.
He added that developments in global energy markets, carbon reduction requirements, and the European Carbon Border Adjustment Mechanism (CBAM) are increasing the need for exporters to reduce their products' carbon footprint.
The minister also referred to the ministry’s “Sun of Industry” initiative, which aims to install solar power plants on the rooftops of around 7,000 factories with a total capacity of up to 1,000 megawatts. The initiative is expected to reduce energy costs, lower natural gas consumption, and improve the competitiveness of Egyptian products.
Moreover, he stressed the importance of increasing local content in the manufacturing of solar and renewable energy components to strengthen domestic value chains and support Egypt’s position as a regional manufacturing and export hub.
Hashem noted that cooperation with IRSC and other specialized Egyptian companies could begin with the development of an integrated solar energy model in a selected industrial zone that could later be replicated in other areas.
For his part, Daniel noted that the company is ready to support Egyptian manufacturers through renewable energy solutions that reduce costs, improve energy efficiency, and enhance export competitiveness.
He also added that IRSC aims to leverage its engineering and implementation expertise to support the Ministry’s industrial development and clean energy objectives while strengthening local content and value chains.
