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MCV invested in solar energy to increase its profitability. The company signed an agreement with IRSC for the installation of a new Solar PV system at its facility in Obour, by which IRSC will provide clean energy to MCV for 7 years.
MCV (Manufacturing Commercial Vehicles) is an Egyptian manufacturer of buses and trucks. The company was founded in 1994 and has international offices in 7 countries including UK, UAE, Cuba, Algeria, Nigeria, South Africa, and Singapore. The company produces 6,000 buses and 1,200 trucks a year under the Mercedes-Benz MCV dual brand.
IRSC (Integrated Renewable and Sustainable Communities) is a developer of renewable energy systems and sustainable economic developments. The company was founded in 2011, and offers turnkey solutions ranging from planning, design, installations, project management, and O&M. IRSC has an extensive work experience in providing off-grid renewable energy systems for all telecommunications providers in Egypt, as well as grid connected, and solar water pumping projects.
MCV signed a Power Purchase Agreement with IRSC for the construction and operation of a solar power plant in on the rooftop of its production facility in Obour, Cairo. IRSC will own and operate the power plant and sell the clean energy to MCV at a reduced price, allowing MCV to save on energy expenses while securing a clean source of energy for 7 years, after which IRSC will transfer the ownership to MCV.
The GEFF team provided support to IRSC throughout various phases of the project by providing technical and economic assessment of the operational benefits associated with the new PV system they are planning to install for their client.
The US$ 472,318 investment allows MCV to reduce its energy expenses per year, which will help the company save production cost and secure a clean energy source.
The reduction of greenhouse gases associated with this investment is estimated 19,003 tonnes of CO2 emissions 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.