Intro Sustainable Resources, Siemens Energy to establish power plants in Egypt, region
Updated 10/19/2023 2:11:00 PM
Arab Finance: Intro Sustainable Resources has signed a cooperation protocol with Siemens Energy to implement and install 300-megawatt (MW) combined heat and power (CHP) power plants in Egypt and the region by 2030, with the first plant to be established in Egypt, as per an emailed press release.
The deal aims to reduce carbon emissions and increase climate change resilience by shoring up energy efficiency which contributes to achieving sustainable development.
Under the protocol, Intro Sustainable Resources will be in charge of financing and developing the projects, whereas Siemens Energy will be responsible for conducting technical studies and supplying the projects with the needed turbines and other equipment.
“This collaboration to decarbonize industry through the use of our highly efficient Combined Heat and Power (CHP) technologies is in line with Egypt Vision 2030 and will support Egypt to accelerate its ambitious decarbonization journey,” Managing Director of Siemens Energy in Egypt Ashraf Hamasa commented.
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