Modernization of production lines reduces energy bills and emissions
INGELEC, a leading manufacturer of electrical sockets and other electrical components in Morocco, experienced significant energy price increases and raw material price fluctuations in a highly competitive market.
The company addressed MorSEFF for financing of rehabilitation of production lines across its four main sites to reduce energy consumption and stay competitive.
The project included the purchase of a galvanising machine, injection moulding machines, compression presses and welding machines.
MorSEFF supported Ingelec with loan financing and the choice of highly performing production technologies, which lead to reduced energy consumption and emissions.
The €2 million project allows the company to reduce its energy consumption by nearly 5,000 MWh per year, generating substantial cost savings. Low energy costs mean more resilience to energy price fluctuations at the liberalised market, lower net production costs and higher margins. All this enhances the company’s financial standing now and in future.
In addition, the project improves the production processes, allowing it to be more time and cost efficient, and delivers a positive environmental effect from the reduced CO2 emissions – a benefit both locally and globally.
This project demonstrates that energy savings may occur in every industry and type of production, decreasing one of the most intensive components of the company’s net costs – the energy bill.
This project is funded by the EU and the EBRD’s Southern and eastern Mediterranean (SEMED) Multi-Donor Account. The donors of the SEMED MDA are: Australia, Finland, France, Germany, Italy, the Netherlands, Norway, Sweden, Taipei China and the United Kingdom.