Egypt is pushing ahead with plans to launch the ‘Sun of Industry’ initiative, which aims to expand the use of solar energy within the industrial sector by installing solar power stations on the rooftops of 7,000 factories across various governorates.

The initiative by the Industry Ministry will have a total capacity of 1,000 megawatts (MW) within two years, a step aimed at reducing production costs and enhancing the competitiveness of Egyptian industry, the Ministry said in a report last week

The ‘Sun of Industry’ initiative is one of several projects designed to support the industrial sector's shift towards reliance on renewable energy sources.

This will be achieved by installing solar power stations on factory rooftops, thereby reducing pressure on the national electricity grid and enhancing the sustainability of production processes, the Ministry said.

“The Ministry is currently working in coordination with the Ministries of Finance and Electricity and Renewable Energy to finalise the technical and financial requirements for the initiative, paving the way for its launch and implementation.”

“The initiative is expected to contribute to reducing conventional electricity consumption and lowering operating and production costs. This will give factories a greater ability to compete in local and export markets, especially given the increasing importance of adhering to environmental standards in global trade.”

According to the report, the initiative's impact is not limited to providing energy, but extends to deepening and localising industries that supply the requirements of solar power plants, including the manufacturing of essential components and systems.

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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