We’ve always known that natural resources are limited and will eventually become scarce. And that’s why sustainability is not only the trending topic of the last decade but also an attempt to sustain our limited resources by generating renewable energy instead. One of the latest sustainability projects is happening in the heart of the Red Sea at Makadi Bay.
If you haven’t heard of SolarizEgypt, it is an energy company that aims to take advantage of Egypt’s incredible potential in creating a renewable power supply that will source residential, commercial, and industrial entities in Egypt. This will provide consumers with a better, cheaper, and cleaner alternative to conventional electrical energy. As of yesterday, 13th of February, 2022, Makadi Bay and SolizEgypt have joined forces to develop a solar power plant in the heart of Makadi Heights. This agreement is a step towards a sustainable future as it is set to save electricity expenses as well as produce clean, renewable energy every year.
The solar power plant is expected to be operating by the beginning of 2023 over a massive area of 15,000 sqm where SolarizEgypt will have control over the financing, construction, and maintenance of the solar power plant for the coming 25 years.
The agreement was signed by Tamer Dewidar, CEO of Makadi Heights, and Yaseen Abdel Ghaffar, Founder and Managing Director of SolarizEgypt. The plant is expected to start operation by the first quarter of 2023, over an area of 15,000 sqm. According to the Build Own Operate Transfer (BOOT) agreement, SolarizEgypt will be handling the financing, construction, operation, and maintenance of the solar power plant for the next 25 years.
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Makadi Heights is fulfilling its goal to work towards Egypt’s vision for 2030 to rely on renewable energy sources and enhance the country’s environmental sustainability practices. Below, Tamer Dewidar, CEO of Makadi Heights expresses his gratitude and excitement to this partnership and common goal:
“We at Makadi Heights are working in-line with the sustainability efforts steered by the Red Sea governorate, such as using clean energy, and complementing the nation’s efforts to reach Egypt 2030 Vision, by hammering on the 7th goal of the UNSDGs; which is to ensure everyone’s access to affordable and clean energy.”
To understand just how much energy will be generated, Dewidar explains below:
The solar power plant will utilize 3,640 solar panels and is expected to generate over 3,304 MWh/year; producing up to 20% of the total power supply of Makadi Heights. This agreement will allow the solar power plant to offset 2,143 tons of CO2 each year, which is equivalent to removing 258 cars off the road for one year; saving 219,000 gallons of gas, and planting 1,600 trees. This will definitely leave a positive impact on the overall environment scene in the Red Sea area.
According to the founder and Managing Director of SolarizEgypt, Yaseen Abdel Ghaffar, SolarizEgypt will be acting as an independent power producer, selling electricity to Makadi Heights with competitive pricing. This incredible project will also be financed by local banks as well as being part of the Green Economy Financing Facility that is provided by the European Bank for Reconstruction and development. (EBRD).
We’re looking forward to making use of Egypt’s natural resources that will provide a sustainable future and are thankful for initiatives and companies that take it upon themselves to work towards a brighter future for Egypt.
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