PHOTO
Cairo/Abu Dhabi: Abu Dhabi-based International Holding Company PJSC (ADX: IHC) is building a pioneering solar-powered irrigation system to drive increased energy-efficient agricultural production in Egypt.
The initiative, which is designed to be replicated across the country, aims to increase production of fruit and vegetables for export, create skilled jobs in a modernized agriculture sector, and optimise energy and water resources.
IHC’s subsidiary, Al Hashemeya Company for Land Reclamation and Cultivation, has invested AED 1.5 million in constructing the pilot project, which is made of six wells spread over 500 acres, using photovoltaic system to help pump water onto 10,000 acres (4,050 hectares) of farmland in the Wadi Al-Natroun region of northern Egypt. Al Hashemeya is aiming to operate more than 80 wells over the next five years with an AED 20 million investment, making 75% of the total power needed coming from solar energy.
Mamoon Othman, Chief Executive Officer of IHC Food, commented: “IHC’s project in Egypt is demonstrating what can be achieved across the country and the wider region to rapidly advance the agriculture sector, which is key to increasing exports. Solar is a reliable and cost-effective source of energy in this environment, and its deployment for irrigation is increasing crop yields and enhancing competitiveness. We see a bright future for the sector if this project can be replicated widely.”
The system will steadily increase generation capacity to 17 MW to provide 75% of the farm’s total energy needs at less than half the cost of electricity from the national grid. It is estimated that solar power will be available for 5 to 6 hours in the winter season and between 8 and 10 hours in the summer.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
