Arabian Cement, SolarizEgypt sign EGP 100 mn solar power plant agreement

Arabian Cement signs agreement with SolarizEgypt for EGP 100 mn solar facility: Arabian Cement Company (ACC) and SolarizEgypt signed on Wednesday a EGP 100 mn agreement to set up a solar power plant at ACC’s cement plant in Suez, according to an emailed statement (pdf). The solar power installation will provide about 4% of the plant’s power needs. ACC is positioning the agreement as an industry first. QNB Al Ahli will finance the power plant through the European Bank for Reconstruction and Development’s Green Economy Financing Facility. SolarizEgypt will build and operate the facility for 25 years under a build-own-operate-transfer basis.