Lafarge Egypt, a member of Holcim Group, signs a long-term contract with Lumika Renewables Egypt, a subsidiary of global fund management firm A.P. Moller Capital, to supply electricity through solar cells, Invest-Gate reports.
This collaboration aims to convert 50% of the factory’s daily energy consumption to clean energy, meeting the Group’s global vision to promote the use of clean renewable energy reducing carbon footprint.
Najib Ribi, Industrial Director at Lafarge Egypt and member of Holcim Group, says, “the contract, valued at $93 mn, with Lumika Egypt aims to supply Lafarge Egypt with approximately 140 GWh worth of electricity generated through solar cells per year. Moreover, the contract is expected to take effect in Q1 of 2024,”
Annually, Lafarge Cement Egypt operates upon approximately 750 GWh of electricity, whereas Lumika’s first-ever renewable solar power plant in Egypt, to be built will have a capacity of 50MW.
Additionally, Lafarge Egypt has been keen on integrating the environmental aspect in their production to cope with the environmental challenges, launching the two novel green cement products: ECO Planet and ECO Planet Prime.
