LEHAA for Trading and Agricultural Investments is a local SME specialized in farming a variety of crops and supplying both local and export markets. The company invested in a 1,995 kWp solar PV system on its farm in the New Valley Governorate.
Established in 1998, LEHAA for Trading and Agricultural Investments specializes in growing a variety of crops including potatoes, wheat, and alfalfa. The company exports its products to several countries including Spain, Greece, Russia, Iraq, Saudi Arabia, the United Arab Emirates, and Jordan, and sells its products to customers in the local market.
By investing in a solar PV system LEHAA’s has reduced its dependence on diesel generators, thus generating cost savings and reducing its environmental footprint. Additionally, the operation of an off-grid PV-hybrid system will promote the use of sustainable energy sources within the region where LEHAA operates. The investment will ensure availability of electricity all year-round. The financial savings will be re-invested in LEHAA’s operations to increase productivity and enhance the business’ competitiveness.
The GVC team evaluated the technical and financial feasibility of the project, provided technical advice to LEHAA in selecting best available technologies and confirmed the investment’s profitability, energy savings and positive impact on the environmental footprint of the company.
The US$ 988,151 investment is expected to generate US$ 9,479,141 in savings over 25 years and create 30 jobs. It is estimated that the solar PV system will generate 83,127 MWh of electricity and reduce greenhouse gas emissions by 63,883 tCO2eq over the project lifetime, which is equivalent to the energy use of approximately 7,693 homes in one year.
Egypt Green Value Chain Financing Facility was developed by the European Bank for Reconstruction and Development (EBRD) and is financially supported by the Green Climate Fund (GCF), the European Union (EU) and the EBRD Shareholder Special Fund (SSF).
The Sub-borrowers receive an investment incentive for successful project implementation, provided by a grant from the EU.
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