Arab Finance: Titan Egypt has signed a power purchase agreement (PPA) with SolarizEgypt to develop an 11.45-megawatt solar power plant for Misr Beni Suef Cement Company, one of its subsidiaries, according to an emailed press release.
Under the 25-year agreement, SolarizEgypt will undertake the development, financing, construction, ownership, operation, and maintenance of the solar facility.
The project will supply Misr Beni Suef Cement Company with renewable electricity through the PPA model, allowing the company to use solar energy without direct capital investment in the plant.
The solar power facility is expected to meet part of the company's electricity demand, supporting its efforts to improve energy efficiency and increase the use of renewable energy in its operations.
According to Titan Egypt, the project aligns with its sustainability strategy and aims to help reduce carbon emissions associated with its industrial activities.
