The first and largest manufacturer of syringes in the Middle East, the family-owned Arab Medical Equipment Company (AMECO), has signed agreement to receive 2.5 MW of solar power from the roof of its manufacturing plants in Ramadan City, Cairo. The contract is signed with the Norwegian renewable investment company – Empower New Energy and the Egyptian company – Gree Solar. This week marked the start of construction of the first 0,5 MW phase of this large rooftop solar plant which is Empower’s fifth investment in Egypt.
The Government of Egypt has committed to increase the share of renewables in the country’s electricity mix from 20 % in 2020, to 42 % in 2030. As a result of this 25-year contract AMECO, who have implemented European standards for design and manufacturing of medical equipment, will contribute to this goal by producing 4,4 GWh solar power yearly, equal to saving an estimated 2,125 thousand tons of CO2 annually.
Hisham El Fata Chairman of AMECO says” offering rapid deployment of clean energy with no up-front cost to the customer is a value proposition that resonates greatly with Egyptian energy buyers and as a company, saves us electricity costs and enables sustainable operations with use of clean energy.
Terje Osmundsen CEO of Empower “this an important step closer to realizing our ambition to be one of the foremost independent solar power providers in the C&I industry in Africa”.
About Empower New Energy
Empower New Energy is an award – winning impact investor in African renewable energy with proven business and operating mode. The Company serves C&I clients and communities by mobilizing international capital and operating assets effectively