Abu Dhabi Commercial Bank – Egypt and Schneider Electric, a leader in digital transformation of energy management and automation, announced a strategic partnership through signing two memorandums of understanding (MoUs). The first MoU aims to establish a framework for cooperation to finance green and sustainable projects in Egypt, by providing micro-grid solutions to Schneider Electric’s Badr Factory. The second MoU aims to implement sustainable development projects in Marsa Matrouh Governorate, by establishing a cooled agricultural greenhouse, a water desalination unit, and a modern fertilization unit.
The MoUs were signed by Sebastian Reyes, President of Schneider Electric for North East Africa and Arab Levant, and Ihab Al-Sowerky, CEO of Abu Dhabi Commercial Bank Egypt.
According to the first MoU, Schneider Electric and Abu Dhabi Commercial Bank will cooperate to support green financing initiatives, the circular economy, and the sustainable use of natural resources and land.
The MoU will provide mini-grid solutions that integrate various distributed energy resources with renewable solar energy resources for real estate projects in Egypt. This will improve the efficiency of buildings and energy consumption, as well as provide smart energy distribution and storage services via microgrid, electric car chargers, and irrigation and water systems. The MoU will also finance the micro-grid network at Schneider Electric’s Badr Factory, which aims to use renewable energy with a capacity of 758 kilowatts through solar panels and micro-grid solutions to maximize its resources and achieve sustainability.
According to the second MoU, Schneider Electric and Abu Dhabi Commercial Bank – Egypt will implement sustainable development projects in Marsa Matrouh Governorate. The projects will create a positive change in society in the water, food, and energy sectors, and provide technical support and training to the beneficiaries.
The signing also involved Gebal Egypt for Agriculture, Sustainability and Livelihoods, which will be in charge of implementing the projects. The projects include establishing a cooled agricultural greenhouse, a water desalination unit, a fertilization unit, and a unit for lifting water from wells. The technology is expected to reduce the environmental impact by lowering carbon emissions and saving water consumption. The projects are also expected to support 1,000 village residents, improve their living conditions, produce 10 tonnes of agricultural crops per year, desalinate 3,650 cubic meters of water annually, and pump 7,300 cubic meters of well water per year, in addition to producing 70 megawatts/hour of clean energy.
“Egypt aims to reach 42% of the energy mix based on clean and renewable energy,” said Reyes. “The current percentage is 12%. To achieve this goal, which is consistent with Schneider Electric’s vision and strategy, the private sector and society need to cooperate. This is a vital part of Egypt’s 2030 plan. We are committed to providing innovative and effective solutions that will make a positive difference in society.
He also expressed his company’s eagerness to cooperate with reliable entities that share the same goal of creating a positive climate. He also expressed his pride in cooperating with Abu Dhabi Commercial Bank Egypt and Gebal in this project.
For his part, Ihab Al-Sowerky, said that this partnership is a new step that his bank is taking towards implementing the sustainability strategy of Abu Dhabi Commercial Group.
“Sustainable development has indeed become one of many countries’ top priorities, and it so happens that it is one of Abu Dhabi Commercial Bank’s top priorities as well. We believe in the pivotal role that banks can play to support the economy and the shift towards sustainability. Today, we join hands with the international Schneider Electric Company to maximize the impact on society by expanding financing green projects. We are committed to supporting the transition and also committed to contributing to achieving community development, and generating jobs.” Al-Sowerky said.
Source: Daily News Egypt
Zero Carbon Ventures, an Abu Dhabi based developer of emission reduction technologies and solutions will establish a joint venture (JV) with Green Planet for Sustainable Environmental Solutions, part of the Egyptian Special Group for Trading and Investment for a waste-to-value project in the Arab country.
According to a press statement, the JV company, called Zero Carbon Green Planet (ZCGP), will deploy Zero Carbon’s patent-pending high technology system, which processes methane and organic waste into graphene, hydrogen, fertilisers and other valuable commodities, at the 15 May landfill site in Cairo.
The JV will be incorporated in Abu Dhabi Global Markets (ADGM).
The first phase of project at the landfill site will be operational by 2025, the statement said, adding that the entire project will be completed in 2027.
It said the advanced manufacturing process at the facility will process 400 tonnes of organic waste per day whilst preventing methane and CO2 from escaping into the atmosphere.
The project will employ up to 250 people once it is fully operational.
Zero Carbon CEO and CO-Founder Martin Reynolds said: “Our aim is to build a circular economy, an innovative and sustainable economic model that aims to redefine traditional linear production and consumption patterns. This holistic concept not only addresses environmental concerns, but also promotes economic opportunities and innovation. The new advanced manufacturing facility we plan to build in Egypt takes every drop of value from the waste that otherwise would go to landfill, making new products to be used again in the market.”
Dr Mohammed Asaad, Chairman of Green Planet said, “Green Planet, and Special Group hold innovation and growth for Egypt at the core of its values. It is a pleasure to be partnering with such an inventive and experienced team at Zero Carbon Ventures, to deliver and scale impactful projects and bring new technology to the region.”
Tarek El-Araby, CEO, Waste Management Regulatory Authority said, “We applaud the collaborative efforts of Zero Carbon Ventures and Green Planet in spearheading this innovative project. It’s a significant stride not only in advancing our circular economy but also in bolstering Egypt’s position as a regional hub for economic growth and manufacturing.”
Source: Zawya Projects (Writing by SA Kader; Editing by Anoop Menon)
AD Ports Group has completed a comprehensive environmental and social impact assessment (ESIA) for the development and operation of a state-of-the-art multi-purpose terminal at Safaga Port.
AD Ports had signed a 30-year concession agreement with the Red Sea Port Authority (RSPA) for the development of the port.
The terminal is designed to handle 6 million metric tonnes of bulk cargo, 450,000 TEUs of containers, and more than 50,000 roll-on/roll-off units. AD Ports Group will focus on developing the upper infrastructure, including buildings, facilities, and superstructures. The terminal is strategically positioned as the primary gateway for regional development, enhancing trade efficiency and connectivity.
Diverse scientific methodologies
The ESIA was conducted using diverse scientific methodologies, complying with Egypt’s national regulations and International Requirements, including Egypt’s Law No 4 of 1994 for environmental protection, the IFC Performance Standards, and the World Bank Group’s EHS Guidelines.
Highlighted within the assessment’s findings were the significant benefits of the project, including economic growth through stimulating local economies, job creation, and boosting regional economic activity. Leveraging AD Ports Group’s experience in developing advanced port infrastructure, the terminal is well-positioned to improve accessibility and connectivity, while adopting environment-friendly practices that will reduce pollution and conserve natural resources.
The ESIA further highlights the impacts on community development, noting the anticipated improvement in community infrastructure, education, healthcare, and social services.
Comprehensive plans have been established, which include mitigation measures to address potential negative impacts during construction and operational phases, including dust emissions, noise levels, waste management, and occupational health and safety. This environmental management plan further outlines procedures for environmental management, self-monitoring, and social management, ensuring sustainable and responsible practices.
In parallel with the ESIA, the design of the multi-purpose terminal is aiming for net-zero certifications for two of its buildings, while incorporating various sustainable design features in the buildings and infrastructure. These features include carefully selected low-carbon materials, as well as energy and water efficient systems.
Saif Al Mazrouei, Chief Executive Officer, Ports Cluster, AD Ports Group, said: “As a Group, we are committed to sustainable and responsible port development, particularly in the communities in which we operate, so that we can actively contribute, positively, to the local economy and environment. However, we understand that our commitment extends beyond infrastructure and, together with the Red Sea Port Authority, we hope to create meaningful change that drives sustainable economic growth.
The European Bank for Reconstruction and Development (EBRD) has teamed up with A³&Co., a pioneering consulting firm, to lead a transformative sustainable initiative at Arabian Cement Company in Egypt.
This collaboration is designed not only to reduce carbon emissions but also to cut costs through innovative, environmentally responsible approaches, supporting Arabian Cement Company in its transition to NetZero.
Through this strategic partnership, EBRD said it is providing green investment and working closely with A³&Co. to develop a comprehensive decarbonisation roadmap, tailored specifically for Arabian Cement Company to accelerate the production of low carbon cement, leveraging A³&Co.’s expertise in cement green solutions and EBRD’s commitment to green initiatives.
This partnership aims to align efforts to pioneer change in the cement industry towards a green cement future through reducing carbon footprint within the Arabian Cement Company operations.
Arabian Cement Company is a leading player in Egypt’s cement industry since 1997, with two production lines in Sokhna, Suez Governorate, of an annual production around 5 million tonnes of high-quality clinker and cement, contributing 6% of Egypt’s nominal capacity.
Arabian Cement Company said it is dedicated to minimising its carbon footprint, embracing this initiative as a pathway to a greener, more financially sustainable future.
“We are excited about this partnership with EBRD and A³&Co. which showcases our commitment to environmental stewardship and sustainable development,” said Sergio Alcantarilla, CEO of Arabian Cement Company.
“By embracing cutting-edge solutions and adopting greener processes, we are not only reducing our carbon footprint but also setting new benchmarks for the industry.”
The decarbonisation roadmap will be carefully tailored to address the specific challenges and opportunities within the Arabian Cement Company’s operations, said a statement.
Through comprehensive strategy includes verified targets, project advisory for implementing decarbonisation implementations, in-house capacity building, carbon market trading, and the implementation of an integrated ESG business model, together, these initiatives aim to significantly reduce GHG emissions, improving operational efficiency, while reducing costs.
A³&Co., renowned for its expertise in cement industry consulting, will play a pivotal role in guiding Arabian Cement Company towards their transition to NetZero. “We are delighted to partner with EBRD and Arabian Cement Company on this transformative project,” said Amr Nader, CEO of A³&Co.
“Through our collective expertise, we are confident that we can drive meaningful progress towards decarbonisation and the production of green cement, setting a precedent for responsible business practices in the region.
“The cooperation between Arabian cement and A³&Co. is an additional milestone for our successful collaboration over the past two years and will not only be limited to decarbonisation roadmap but extends to SBTi certification and CBAM registration which will support Arabian cement exports endeavors and global product recognition, A³&Co. will also develop Climate Corporate Governance “CCG” framework for Arabian Cement which is the cornerstone for a fully functioning ESG system in line with international norms.”
Commenting on the collaboration, Dimitrios Koufos, Head of Sustainable Business, Industry, Agribusiness, and Commerce, EBRD, said: “At EBRD, we are dedicated to supporting initiatives that drive sustainable economic growth. Our partnership with A³&Co. and Arabian Cement Company exemplifies our commitment to fostering innovation and catalysing positive change in the industry. Together, we will pave the way for a more sustainable future in Egypt’s cement sector.”
Intro Sustainable Resources, a subsidiary of Intro Holding Investments, has signed a cooperation protocol with Siemens Energy, a global leader in energy technology, to implement and install a group of highly efficient combined heat and power (CHP) plants in Egypt and the region.
The CHP plants will have a total capacity of 300 megawatts by 2030 and will use natural gas as fuel. The cooperation aims to reduce carbon emissions and address climate change by providing clean and reliable energy solutions.
The cooperation is part of Intro’s strategy for sustainable resources, which seeks to actively participate in development through a series of joint energy projects that tackle the issue of climate change, support sustainable development initiatives in various fields, and lay the foundation for a carbon-free future. This aligns with Egypt’s Vision 2030 and the UN Sustainable Development Goals (SDGs).
Hany Hilaly, President of Energy and Utilities Companies at Intro Sustainable Resources, said that the cooperation with Siemens Energy involves an integrated portfolio of solutions, products, and services that cover all aspects of the energy and renewable energy value chains. He added that the two parties are already collaborating on a joint power generation project in 10th of Ramadan City.
According to the protocol, Intro Sustainable Resources will be responsible for providing financing and comprehensive development of the CHP plants, while Siemens Energy will be responsible for conducting technical studies and supplying the plants with turbines and other necessary equipment.
Dietmar Siersdorfer, CEO of Siemens Energy in the Middle East, said that this agreement with Intro will expand their partnerships and help accelerate the decarbonization of the industrial sector in Egypt, by leveraging Siemens Energy’s highly efficient CHP technologies and enhancing sustainability. “We look forward to strengthening this important cooperation with Intro even further,” he said.
This cooperation is expected to effectively contribute to achieving the SDGs in Egypt and the region, as these CHP plants will significantly reduce carbon emissions, which is consistent with the directions of governments in Egypt, the region, and the world to maximize the opportunities to benefit from shared energy in industrial and production projects.
Ashraf Hamasa, CEO of Siemens Energy in Egypt, said that Siemens Energy is extending its important partnership with Intro to help eliminate carbon emissions in the industrial sector based on Siemens Energy’s highly efficient CHP technology, which is compatible with Egypt’s Vision 2030. He added that this cooperation will support Egypt in its ambitious journey to accelerate the energy transition process and eliminate carbon emissions.
Mohamed Abbas, Chairman of the Board of Directors of Intro Sustainable Resources, added that the cooperation confirms Intro Sustainable Resources’ keenness to effectively contribute to achieving the SDGs in Egypt and the region, and the compatibility of Intro Sustainable Resources’ strategy with Egypt’s Vision 2030 to achieve sustainable development, by seeking solutions to provide energy and use green fuel, in line with a carbon-free future. He said that energy is the basic foundation for achieving comprehensive development in all societies, and the lifeblood of development in various areas of economic and social life.
Intro Sustainable Resources is one of Intro Holding Investments’ companies, which includes a diverse group of companies such as ADES Holding for oil and gas exploration, whose shares were traded on the Saudi Tadawul on 11 October.
Source: Zawya / Daily News Egypt
The committee for selecting the winning smart green projects will announce 18 small and medium enterprises by 15 October, according to Hisham Badr, Assistant Minister of Planning for Strategic Partnerships. The committee met earlier this week to evaluate the projects that were submitted from various governorates.
The committee consists of experts and professors from Egyptian universities, representatives from the Ministries of Planning and Economic Development, and the Environment, and a high-level delegation from the United Nations. The committee is chaired by Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt.
Badr said that the winning projects will be showcased at the COP28, which will be held this year in the United Arab Emirates, to attract development support for the 18 projects out of 5,800 green projects that were submitted from all Egyptian governorates under the National Initiative for Smart Green Projects.
The Egyptian government has recently launched the second edition of the National Initiative for Smart Green Projects, which reflects Egypt’s vision to integrate development and digital transformation and to use information technology optimally.
He also revealed that he is close to signing several partnerships and agreements with the private sector and international development institutions to adopt small and medium green enterprises within the Green Smart Projects Initiative. The initiative plays an important role in facilitating communication between the private sector, international institutions, and the government.
The General Coordinator of the Smart Green Projects Initiative explained that the current stage involves reaping the benefits of the national initiative in cooperation with the governorates, starting with raising awareness of climate change through seminars, training programmes, and workshops that aimed to explain how to present smart green projects that provide solutions to climate change challenges.
He emphasized that the project evaluation stage will be completed by executive committees in each governorate that include representatives of the governorate and the ministries of Planning and Economic Development, Communications and Information Technology, Environment, Higher Education, and the National Council for Women. These committees will select the best projects based on several criteria to ensure transparency and good governance.
He stated that he held several meetings with successful businessmen in their fields to establish close partnerships that help the private sector expand in the Egyptian market in various activities, including research, green activities, recycling, and sustainable tourism. He stressed that the partnership with the United Nations contributes to providing scientific studies and research to serve the initiative, achieving complete integration between all parties.
He stressed that the initiative reflects the Egyptian state’s interest in the issue of climate change. It is part of the trend to empower the private sector, youth, and women, and in line with the state’s efforts to achieve the goals of sustainable development and digital transformation, as well as the national climate change strategy 2050. Badr explained that the goal of the initiative is to create a motivational movement within all governorates, to emphasize the importance of green and smart projects in various aspects of life.
Source: Zawya/Daily News Egypt
Beltone Capital, a wholly owned subsidiary of Beltone Financial Holding, has signed a framework agreement with CRIF, a global company specializing in credit and business information systems, analytics, outsourcing, and processing services, as well as advanced digital and open banking solutions for business development. The agreement covers potential cooperation in Egypt and the MENA region on ESG scoring, credit rating, data science and analytics, and business information.
The agreement aims to create value for consumers, businesses, and financial institutions by providing information and solutions that enable more powerful decision-making, improve access to credit, and accelerate digital innovation. The agreement also aims to provide support and value-added solutions tailored to the distinctive characteristics of the local market, especially in the SME segment.
Carlo Gherardi, Chairman and CEO of CRIF, commented: “We are delighted to be partnering with Beltone Capital. This is an important step for us in consolidating CRIF’s presence in the market, which will benefit from our global expertise in consumer finance and business information.”
Ibrahim Safwat, Beltone Capital CEO commented: “Beltone Capital’s investment platforms rely on data-driven fundamentals and modern financial technologies. This partnership with CRIF is another step towards solidifying our plans in making sound investment decisions across various industries.”
Beltone Capital is the direct investments arm of Beltone Financial Holding. Beltone Capital channels investments in technology, food and agribusiness, real estate, infrastructure, and exporting industries. Beltone Capital is dedicated to developing data science solutions and providing a cognitive interpretation of statistical models across industries.
CRIF is a global company that offers fraud prevention and cybersecurity services to consumers and SMEs. Furthermore, CRIF Ratings, a credit rating agency authorized by ESMA and recognized as an ECAI, provides ratings on non-financial companies based in the EU. CRIF is also an AISP and PISP in all European countries where the PSD2 directive for open banking is applicable, and an AISP in the UK. Founded in Bologna in 1988, today the company operates in 40 countries across 4 continents, with over 6,000 professionals.
Source: Zawya / Daily News Egypt
Acwa Power, a leading developer and operator of power generation and water desalination plants worldwide, said it has signed an agreement with the Egypt’s New and Renewable Energy Authority (NREA) to set up a 10 gigawatt (GW) wind project in the country.
The wind power plant is expected to provide the Egyptian economy with $6.5 billion in savings in annual natural gas costs and secure up to 120,000 job opportunities, said the statement from Acwa Power.
Under the deal, NREA will allocate approximately 3,000 sq km of land west of Sohag, an urban centre, for the project.
On completion, the wind project is expected to generate around 50,000 GW-hours of clean energy annually, providing electricity to around 11 million households and mitigating the impact of 25.5 million tonnes of carbon emissions each year.
A leading player in the region’s utilitites sector, Acwa Power has had a major presence in Egypt since 2015.
The company has three other facilities in Egypt, that are either in operation, under construction or in advanced development, including a 120 MW solar PV project in Benban, a 200 MW solar PV facility in Kom Ombo, and the 1.1 GW Suez Wind Energy project.
Speaking at the signing ceremony, Dr Mohamed Shaker Al Marqabi, the Minister of Electricity and Renewable Energy, said: “Egypt has adopted an ambitious programme to advance the electricity sector in various fields, which includes maximising the utilisation of new and renewable energy resources, encouraging investment in these fields to enable energy independence from fossil fuels, continuing to reduce carbon emissions, and increasing renewable energy capacity in the energy mix up to 42% by 2035.”
“This focus also aligns with Egypt’s Vision 2030 and the National Climate Strategy 2050 with a view to mitigating the impact of climate change challenges and achieving sustainable economic growth,” he stated.
The agreement was signed by Dr Mohamed El Khayat, Chairman of NREA, and Engineer Hassan Amin, Country Director – Egypt, Acwa Power in the presence of Dr Moustafa Madbouly, Prime Minister of Egypt; and Dr. Mohamed Shaker, the Egyptian Minister of Electricity as well as senior officials of Acwa Power led by its CEO Marco Arcelli.
Arcelli said today’s signing furthers the group’s commitment to driving sustainable development and powering Egypt’s future with clean, reliable, and renewable energy.
“We are determined to harness the vast potential of wind power, creating jobs, reducing emissions, and ensuring a greener and brighter future for Egypt, in alignment with ACWA Power’s vision for a sustainable planet,” he added.
A group of companies, including Abu Dhabi’s Masdar, have signed an agreement with Egypt’s New and Renewable Energy Authority to secure land for a $10 billion wind farm.
Masdar, Egypt’s Infinity Power and Hassan Allam Utilities signed an agreement last year to develop the 10-gigawatt project, which is expected to save the North African country $5 billion in annual natural gas costs once operational.
The wind farm will produce 47,790 gigawatt hours of clean energy annually and offset 23.8 million tonnes of carbon dioxide emissions.
“This 10-gigawatt onshore wind project is set to be one of the largest wind farms in the world, and largest on the African continent,” said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc.
“It is a sign of the strong partnership between the UAE and Egypt, with great potential to create jobs, cut emissions and power homes with clean electricity at competitive economical costs.
“The world needs to triple renewable energy capacity by 2030 to meet the goals of the Paris Agreement,” the Cop28 President-designate, who is also chairman of Masdar, added.
Egypt, the Arab world’s third-largest economy, has brought forward its goal of sourcing 42 per cent of its energy from renewable sources by 2035 to 2030. Its current renewable energy component is about 20 per cent.
The agreement “not only positions us as a leading provider of renewable energy but also strengthens the growing relationship between the Emirates and Egypt”, said Nayer Fouad, chief executive of Infinity Power.
“Apart from being a key source of renewable energy, the farm will also create employment opportunities for local communities.”
In March, Infinity Power, a joint venture between Masdar and Cairo-based Infinity, completed the acquisition of the entire shareholding of Africa’s wind power platform Lekela Power.
Lekela’s portfolio includes 1 gigawatt of operational wind power projects in South Africa, Egypt and Senegal, and a 1.8-gigawatt pipeline of projects in various stages of development across the continent.
Last year, Dubai-based AMEA Power said it secured funding to develop a solar plant and a wind farm in Egypt.
AMEA Power’s wind farm, which is expected to have a capacity of 500 megawatts, will be in the Red Sea region and is being developed in partnership with Japan’s Sumitomo Corporation, which will own 40 per cent equity in the project.
Source: John Benny, The National
In partnership with the Egyptian Biodynamic Association (EBDA), Ventile will help its 2,380 members convert to organic and biodynamic regenerative farming methods that will have a positive impact on the environment. It will also help keep Egyptian cotton farmers competitive on the world market in an era when high quality, ethically farmed organic cotton is increasingly in demand for textile production.
The move aims to ensure the quality of life in farm communities around the country and is viewed as an investment in Egypt’s future, according to Justus Harm, co-executive director of EBDA. “When farmers are supported with the resources needed to transition to more sustainable and regenerative practices, we ensure that our planet’s finite resources will be used responsibly and that farmers will be able to grow and harvest high quality cotton for generations to come,” he said.
Zurich-based Ventile will celebrate its 80th anniversary this year. Long known globally as a manufacturer of high-performance fabrics, it moved to being PFC-free in late 2021 in response to growing demand for sustainable practices in the textile industry. It replaced the PFCs with a durable water repellent (DWR) without compromising the quality and performance of the fabric. Ventile’s was among the industry’s first renewably sourced water repellent treatments.
The brand’s waterproof cotton fabric was developed during World War II to help save the lives of Royal Air Force pilots who fell into the sea. It went into mass production in 1943 and was worn by RAF pilots around the world before it was eventually adopted by outdoorsmen and adventurers including Sir Edmund Hillary, the first to reach the summit of Mt. Everest.
Sustainable cotton farming aims to combat climate change, save water and create a healthier life for farmers, end consumers and livestock. It is grown without genetically modified organisms (GMOs), and toxic substances like fertilizers, herbicides and pesticides. Spreading this approach is Ventile’s main goal, according to brand director Daniel Odermatt.
“To have an opportunity to collaborate with an association such as the EBDA and to work directly with the source of cotton production is a vital step forward to achieving our goal of creating a traceable and transparent supply chain for Ventile,” Odermatt said.
Source: Claire Wilson, Sourcing Journal