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Lotus Garments invested in solar energy to be able to cope with the rising electricity prices and maintain its competitive edge and product price.
Lotus Garments is a manufacturer and exporter of Egyptian made garments to the US and EU markets. The company started 26 years ago in Port Said and specializes in the production of denim and non-denim bottoms for all age groups. The company manufactures for internationally recognized brands such as LEVI’s, VF and Polo Ralph Lauren.
To cope with the increasing energy prices, and to be able to maintain its competitive edge, the company decided to install 2 Solar Photo-Voltaic systems of 480-kW generation capacity, in its production facility in Port Said. The new systems will allow the company to save production costs and maintain its product price and quality.
Lotus garments benefited from the Green Technology Selector (GTS), which provided a list of pre-approved technologies and their suppliers, for the company to choose from, which helped fast-track their GEFF loan application. The GEFF team confirmed that the chosen technology is pre-approved and helps Lotus achieve its objectives.
The EGP US$ 307,743 investment allows Lotus Garments to reduce expenses, which will help the company save production cost and secure a clean energy source, while maintaining its product offering.
The reduction of greenhouse gases associated with this investment is estimated 620 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.