Schneider Electric, ADCB-Egypt to finance sustainable projects in Egypt

Updated 2/14/2024 7:43:00 AM
Schneider Electric, ADCB-Egypt to finance sustainable projects in Egypt

Arab Finance: Schneider Electric and Abu Dhabi Commercial Bank – Egypt (ADCB-Egypt) penned two memoranda of understanding (MoUs) to back sustainable projects in Egypt, as per an emailed press release on February 13th.

Under the first MoU, ADCB-Egypt will finance the microgrid affiliated to Schneider Electric’s Badr Factory to use renewable energy with a capacity of 758 kilowatts through solar panels.

The second MoU aims to implement sustainable development projects in Marsa Matrouh Governorate.

These projects include the establishment of a cooled agricultural greenhouse, a water desalination unit, a fertilization unit that works with the latest technology to control the precise needs of the plant, and a unit for raising water from wells, all of which are powered by solar energy.

 

Related News