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Minister of Electricity inaugurates largest solar power plant owned by Credit Agricole Egypt - Daily News Egypt

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Minister of Electricity inaugurates largest solar power plant owned by Credit Agricole Egypt

The station operates a capacity of 960 KW per day with investments estimated at EGP 3.25m

Minister of Electricity and Renewable Energy Mohammed Shaker inaugurated a solar power plant with a daily capacity of 960 KW and estimated investments of EGP 3.250m. It will be placed above the administrative building of Credit Agricole Egypt in the Fifth Settlement, which aims to rationalise the bank’s consumption of electricity and the use of renewable energy.

During the opening ceremony, Shaker said that Egypt has been suffering from a major problem in electricity since 2008. He explained that this problem has been solved with the support of success partners, including the Ministry of Petroleum and the entire government, including the president himself.

Meanwhile, Shaker said he was delighted to open the solar power station at Crédit Agricole Egypt, stating that he did not imagine this much precision. “Reaching 950 megawatts in a 45,000 square metre building is amazing and we should be proud of it,” he said.

For his part, Chairperson and Managing Director of Credit Agricole Egypt Francois Edward Drayon pointed out the great expertise of the Credit Agricole Group in the field of eco-friendly projects. It succeeded in adopting a sustainable and environmentally friendly system that started with the early stages of establishing the main administrative building.

He added that the bank’s headquarters in the Fifth Settlement is one of the first green smart buildings in Egypt, the highest operating building in the country, and the best in the country’s energy efficiency. In addition to that, it is certified by the Leadership in Energy and Environmental Design (LEED) which is the first platinum certification for environmentally friendly buildings in Egypt and North Africa.

According to Drayon, the bank is keen on participating and supporting the state initiatives aimed at rationalising the consumption of energy and the use of new and renewable energy. He pointed out the bank’s confidence in the growth of the Egyptian economy and its desire to play an active role in this growth through continuing to serve individuals and companies, as well as contribute to community projects.

Moreover, the regional head of North East Africa and Levant, Schneider Electric Walid Sheta, said the company has a strong interest in the solar sector, one of the most promising sectors in Egypt.

In a joint venture with Crédit Agricole Egypt, he praised the establishment of the solar power plant, stressing that the company has a great societal responsibility to develop the society in which it operates and to supply the market with qualified technical personnel to cope with the technological development at the present time.

According to a member of the board of directors and Vice President of Schneider Electric North Africa and Levant, Sherif Abdel Fattah, the company has been in Egypt for more than 30 years, noting that the company’s main role is to provide integrated solutions for the management of national and giant projects in Egypt to the consumer, while minimizing project operating expenses through energy management.

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