{"id":3742,"date":"2026-09-17T02:51:18","date_gmt":"2026-09-16T23:51:18","guid":{"rendered":"https:\/\/dailybusiness.info\/?p=3742"},"modified":"2026-09-17T02:51:18","modified_gmt":"2026-09-16T23:51:18","slug":"ebrd-eu-gcf-and-cib-support-new-solar-plant-by-solarize-egypt-to-power-samsung-electronics-egypts-manufacturing-facility","status":"publish","type":"post","link":"https:\/\/dailybusiness.info\/?p=3742","title":{"rendered":"EBRD, EU , GCF and CIB support new Solar Plant by Solarize Egypt to power Samsung Electronics Egypt\u2019s Manufacturing Facility"},"content":{"rendered":"
\n

Solarize Egypt, a leading provider of renewable energy solutions, has successfully commissioned a 4.3 MW solar power plant at the Samsung Electronics Egypt\u2019s manufacturing facility in Beni Suef, reinforcing the growing role of renewable energy in powering Egypt\u2019s industrial sector.<\/p>\n

Developed under a long-term Power Purchase Agreement (PPA), the solar power plant is fully owned, operated, and maintained by Solarize Egypt. The facility will supply clean, renewable electricity directly to Samsung Electronics\u2019 manufacturing operations, supporting the company\u2019s sustainability ambitions while enhancing long-term energy efficiency and operational resilience.<\/p>\n

The project reflects the increasing adoption of renewable energy solutions among industrial manufacturers seeking greater energy cost stability, long-term energy security, and lower carbon emissions.<\/p>\n

The project was financed under the EBRD\u2019s Green Economy Financing Facility (GEFF), supported by the European Union (EU) and the Green Climate Fund (GCF), which helps businesses in Egypt invest in renewable energy and advance the country\u2019s green economy transition. Under the facility, CIB received a USD 50 million loan from EBRD, including USD 7.5 million in concessional finance from the Green Climate Fund. The programme is also supported by European Union-funded technical assistance and a \u20ac5.12 million incentive grant allocated to CIB to encourage eligible green investments.<\/p>\n

The EBRD GEFF facility supports Egypt\u2019s green economy transition with up to USD 230million in financing, helping businesses invest in energy efficiency, resource efficiency, desalination, and sustainable land management.<\/p>\n

Commenting on the project, Mr. Amir Imam, Global Corporate Relations Head at CIB, said, \u201cWe are very pleased to finance this significant renewable energy project under the EBRD\u2019s Green Economy Facility (GEFF). This financing underscores CIB\u2019s commitment to supporting investments that improve operational efficiency, strengthen energy resilience, and promote industrial growth.<\/p>\n

Mike Taylor, EBRD Director for Financial Institutions in the Southern and Eastern Mediterranean region said: \u201cWe are pleased to support this landmark project through the EBRD\u2019s Green Economy Financing Facility (GEFF), with the support of the European Union (EU) and the Green Climate Fund (GCF). This investment demonstrates how targeted green finance can unlock private sector-led renewable energy projects that enhance industrial competitiveness, strengthen energy resilience and contribute to Egypt\u2019s green economy transition.\u201d<\/p>\n

Ayman Waheed, CEO from Solarize added \u201cWe are proud to partner with Samsung Electronics on this milestone project. Through innovative energy models such as Power Purchase Agreements, we are enabling leading manufacturers to accelerate their sustainability journeys while benefiting from reliable, cost-effective clean energy solutions.<\/p>\n

Ahmad Gaafar, CMEO from Samsung Electronics Egypt said: \u201cAt Samsung, we continuously invest in innovative technologies and solutions that help build a smarter, more sustainable future. This project reflects our commitment to adopting forward-looking approaches that not only support our operational excellence but also contribute to environmental stewardship. As a company driven by innovation, we believe that embracing renewable energy today is an important step toward creating a better tomorrow for our employees, customers, communities, and future generations.\u201d<\/p>\n

The new solar power plant forms part of Samsung\u2019s broader vision to integrate sustainability across its operations while leveraging technology to drive positive impact. By incorporating renewable energy into its manufacturing processes, Samsung continues to advance its efforts toward responsible growth and long-term value creation.<\/p>\n

The installation is expected to contribute significantly to reducing carbon emissions associated with the facility\u2019s electricity consumption while supporting Egypt\u2019s broader transition toward a more sustainable energy landscape.<\/p>\n

As part of the programme, Solarize Egypt also benefited from an EU-funded incentive payment of approximately \u20ac119,000 following the successful implementation and verification of the project.<\/p>\n

Solarize Egypt continues to expand its portfolio of renewable energy assets across the country, developing customized solutions that address the evolving energy requirements of large industrial consumers while supporting Egypt\u2019s clean energy ambitions and sustainable development goals.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Solarize Egypt, a leading provider of renewable energy solutions, has successfully commissioned a 4.3 MW solar power plant at the Samsung Electronics Egypt\u2019s manufacturing facility in Beni Suef, reinforcing the growing role of renewable energy in powering Egypt\u2019s industrial sector. Developed under a long-term Power Purchase Agreement (PPA), the solar power plant is fully owned, […]<\/p>\n","protected":false},"author":13,"featured_media":3743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-3742","post","type-post","status-publish","format-standard","has-post-thumbnail","category-banking"],"yoast_head":"\nEBRD, EU , GCF and CIB support new Solar Plant by Solarize Egypt to power Samsung Electronics Egypt\u2019s Manufacturing Facility - daily business egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailybusiness.info\/?p=3742\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD, EU , GCF and CIB support new Solar Plant by Solarize Egypt to power Samsung Electronics Egypt\u2019s Manufacturing Facility\" \/>\n<meta property=\"og:description\" content=\"Solarize Egypt, a leading provider of renewable energy solutions, has successfully commissioned a 4.3 MW solar power plant at the Samsung Electronics Egypt\u2019s manufacturing facility in Beni Suef, reinforcing the growing role of renewable energy in powering Egypt\u2019s industrial sector. 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