Egypt: IRSC for Renewable Energy Solutions has agreed to supply renewable electricity to El Nahda Cement under a long-term power purchase agreement linked to a new solar project it will develop and operate. The 30-year PPA was signed between El Nahda Industries and Cobalt, an IRSC subsidiary, at a ceremony attended by Egypt’s minister of public business sector Mohamed Sheimy. Under the agreement, Cobalt will finance, build and operate a 27MW solar power plant to supply El Nahda’s cement facility in Qena governorate. The project will be delivered through a public-private partnership structure, with El Nahda purchasing the renewable electricity at agreed prices over the contract term. Cobalt will be responsible for technical studies, financing, engineering, procurement, construction, operation and maintenance.
Sheimy said that switching to clean power would strengthen El Nahda’s competitiveness and support compliance with the EU’s carbon border mechanism. El Nahda’s cement plant in Qena has been operating since 2012 and has a cement production capacity of about 1.5Mt/yr.
