It’s a game-changing combination in Egypt’s highly dynamic renewable energy market. Amarenco, an independent power producer (IPP) based in Cork, Ireland, has signed a partnership with Egyptian energy company SolarizEgypt. Under the terms of the agreement, Amarenco will acquire 74% of SolarizEgypt’s portfolio.
Active in the productive solar power sector in Egypt since 2013, SolarizEgypt has an installed capacity of 50 MW. The Cairo-based company has signed power purchase agreements (PPAs) with several commercial and industrial (C&I) customers such as Arabian Cement Company, Coca Cola Bottling, and Orascom Development Holding. SolarizEgypt is thus among the leaders in the solar C&I segment in Egypt.
Investing $255 million in 4 years
The company led by Yaseen Abdel-Ghaffar has also validated the establishment of a joint venture with Amarenco. The joint venture will be named…
EGYPT: Amarenco invests in solar energy through a joint venture with SolarizEgypt
