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Hassan Allam Holding is pleased to announce that Hassan Allam Utilities, the investment and development arm of the group, will be developing a 5 MW solar PV power plant in Sharm El Sheikh.
The plant will generate over 9 GWh of green energy per year, offsetting more than 4,000 tons of CO2 annually. The development of the plant comes as part of the Egyptian government’s preparations for hosting the Conference of Parties (COP27), the United Nations’ annual conference on curbing the effects of climate change, set to take place in Sharm El Sheikh in November of this year.
In line with Egypt’s target to cover 42% of the country’s electricity needs by 2030 through renewable energy capacity, once built, the plant will contribute to the country’s plans to decarbonize the energy sector and meet its targets under Egypt’s Intended Nationally Determined Contributions (INDCs) towards achieving the objectives of the United Nations Framework Convention on Climate Change (UNFCCC).
Since its inception in 2018, Hassan Allam Utilities has focused its investment and development efforts on sustainable infrastructure, primarily in renewable energy, water, logistics, mobility, in addition to social infrastructure assets.