SolarizEgypt signed a Power Purchase Agreement with Coca Cola Egypt under which they will build, operate, and own a 1 MW solar PV plant on Coca Cola’s Sadat City Facility rooftop.
The project is the first rooftop solar PV implemented through a private-to-private power purchase agreement (PPA), and it received the first net-metering license in Egypt under the newly established regulation.
SolarizEgypt is a licensed EPC Contractor and Independent Power Producer, established in 2013.
The project provides Coca Cola with access to electricity cheaper than that provided by the national grid, achieving a specific energy generation of 1.95 kWh/$ invested. The project is estimated to generate more than 36 GWh over its 25 years lifetime.
The GEFF team evaluated the technical and financial aspects of the project, providing additional support to the beneficiary in aligning the project proposal with GEFF and the partner bank’s rules, hence, making the project technically eligible and bankable.
The US$ 830,000 investment is expected to generate more than 36 GWh over its 25 years lifetime. This is in addition to securing a reliable source of energy for coca cola.
The reduction of greenhouse gases associated with this investment is estimated 6,835 tonnes of CO2 emissions avoided per year, a valuable contribution to mitigating the negative impacts of climate change.
GEFF Egypt was developed by the European Bank for Reconstruction and Development (EBRD) and is supported by the European Union Neighbourhood Investment Facility.
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