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Lafarge Egypt, a building material company, has signed a $93 million long-term agreement in cooperation with Lumika Renewables Egypt (a subsidiary of AP Moller Egypt) to supply 140 gigawatts-hours of electricity from solar cells each year.
According to the release, the agreement will be in effect for the first quarter (Q1) of 2024. Lafarge plans to convert half of its cement plant’s daily energy consumption into clean energy.
Lumika will build the first Egyptian renewable solar power plant with a 50-MW capacity.
Lafarge Egypt, as a member of Holcim, has operations inaugurated at Ain Al-Sokhna with one of the largest cement plants in the MENA region, distinguished with a total plant capacity of 10.2 MT and 5 state-of-the-art production lines.