GEFF Egypt Celebrates Best Industrial Energy Efficiency & Renewable Energy projects in Egypt
EBRD, AFD, EIB and EU award best energy performers
Best energy efficiency investment projects in Egypt awarded
To date, 51 projects have adopted energy efficiency and renewable energy solutions
GEFF in Egypt is co-financed by EBRD, AFD and EIB and supported by the EU
Energy efficiency is making progress in Egypt. In an award ceremony eight investment projects by local companies have been recognised in Cairo today for their contribution to significant reductions of greenhouse gas emissions and the transition to a green economy.
The projects include efficiency and renewable energy investments by companies such as an industrial rooftop solar power producer and a manufacturer of reusable packaging containers made from recycled plastic.
Since 2017, GEFF in Egypt has supported 51 projects through three local banks – Alexbank, NBK, QNB Alahli. The partner banks were also awarded today for their continued commitment to financing green energy projects.
“We are really pleased to celebrate companies who have invested in green technologies and to award the best energy performers. These projects help to diversify Egypt’s energy mix, which is one of our priorities in the country”, said Khalid Hamza, EBRD Deputy Head of Egypt.
The EBRD has invested almost €5 billion in more than 90 projects in Egypt since it started operations in the country in 2012. The Bank invests in all sectors of the economy to support the private sector and sustainable development.
GEFF in Egypt, a €140 million credit line, is a programme fully dedicated to energy efficiency and renewable energy investment in Egypt that was launched in December 2016.
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