IRSC for Renewable Energy Solutions has signed a long-term power purchase agreement (PPA) to secure financing and develop a 27-megawatt solar power plant, marking a key step in expanding the use of clean energy in Egypt, according to an official statement.
Under the 30-year agreement, IRSC will supply renewable electricity to El Nahda Industries Company at competitive prices. The project will be fully developed, owned, and operated by IRSC, with its subsidiary responsible for all phases, including financing, engineering, procurement, construction, operation, and maintenance.
IRSC stated that the project will be implemented in line with the highest occupational health and safety standards, as well as strict environmental requirements, reinforcing its commitment to sustainable and responsible energy development.
The signing ceremony was witnessed by Mohamed Shimi, Minister of Public Business Sector, and aligns with Egypt’s broader strategy to promote a green economy and expand reliance on renewable energy sources.
Minister Shimi noted that increased use of renewable energy enhances the competitiveness of industrial companies, particularly by helping them meet the requirements of the European Carbon Limits Mechanism. Compliance with these standards, he said, supports stronger access to international markets, especially the European Union.
The project is part of the Ministry’s wider sustainability agenda, aimed at reducing carbon intensity across state-linked industries while accelerating Egypt’s transition toward clean and affordable energy.
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