Solarize Egypt Commissions 4.3 MW Solar Plant At Beni Suef Facility

Solarize Egypt has commissioned a 4.3 MW solar power plant at Samsung Electronics Egypt’s manufacturing facility in Beni Suef, Egypt, under a long-term Power Purchase Agreement (PPA). The project will supply clean electricity directly to Samsung’s operations, supporting the company’s efforts to improve energy efficiency, operational resilience, and cost stability.

The solar plant is fully owned, operated, and maintained by Solarize Egypt. Under the PPA structure, Samsung can access renewable electricity without taking responsibility for the ownership and operation of the solar facility. The project is expected to reduce carbon emissions associated with the manufacturing facility’s electricity consumption while supporting Samsung’s sustainability objectives.

The project received financing support through the Green Economy Financing Facility (GEFF) of the European Bank for Reconstruction and Development (EBRD), with support from the European Union (EU) and the Green Climate Fund (GCF).

As part of the financing arrangement, Commercial International Bank (CIB) received a $50 million loan from the EBRD, including $7.5 million in concessional financing from the GCF. The program also includes EU-funded technical assistance and a €5.12 million incentive grant to CIB to encourage investments in green projects.

Following the successful completion and verification of the solar project, Solarize Egypt received an EU-funded incentive payment of approximately €119,000.

Amir Imam, Global Corporate Relations Head at CIB, said the financing demonstrates the bank’s commitment to supporting investments that improve operational efficiency and contribute to industrial growth.

Mike Taylor, EBRD Director for Financial Institutions in the Southern and Eastern Mediterranean, highlighted the role of green finance in enabling private-sector renewable energy projects. He said such investments can improve business competitiveness while supporting Egypt’s transition toward a greener economy.

Solarize Egypt CEO Ayman Waheed said PPA-based renewable energy models can help major manufacturers accelerate their sustainability targets while securing reliable clean electricity.

Ahmad Gaafar, CMEO at Samsung Electronics Egypt, said the project reflects Samsung’s focus on innovative technologies, environmental responsibility, and building a more sustainable future.