Arab Finance: AlexFert, a subsidiary of Valmore Holding, has inked a 30-year power purchase agreement (PPA) with SolarizEgypt to supply 1 megawatt (MW) of solar energy to its manufacturing facility in Alexandria, as per a press release.
The project is expected to produce about 1.58 gigawatt-hours (GWh) of electricity annually, reducing the facility’s reliance on power drawn from the national grid by around 4.2% each year.
Over the agreement’s term, the solar plant is projected to avoid an estimated 21,528 metric tons of carbon dioxide emissions, including approximately 718 metric tons annually.
SolarizEgypt will finance, develop, own, operate, and maintain the plant throughout the 30-year period. The arrangement will give AlexFert access to electricity without requiring an upfront capital investment.
“This agreement represents a practical step within AlexFert’s strategy to enhance the sustainability and efficiency of our industrial operations. By integrating renewable energy into our manufacturing facility, we are strengthening our long-term energy resilience, reducing our reliance on electricity drawn from the national grid by approximately 4.2% annually, and supporting the transition toward cleaner and more sustainable industrial operations. With the project expected to generate around 1.58 GWh of clean electricity every year, this partnership reflects our commitment to translating sustainability into measurable operational progress,” Alaa El Banna, Chairman of AlexFert, said.
Jon Rokk, CEO of Valmore Holding, added: “At Valmore Holding, investing beyond capital means going further than financial investment. It means empowering our portfolio companies to build businesses that are more efficient, resilient, and sustainable. AlexFert’s partnership with SolarizEgypt is a clear example of this approach, translating sustainability into practical actions with measurable long-term impact. With the project expected to avoid approximately 718 metric tons of CO? emissions annually, and an estimated 21,528 metric tons over the 30-year PPA term, this milestone reinforces how operational excellence and sustainability can work together to create lasting value for our companies and stakeholders.”
Ayman Waheed, CEO of SolarizEgypt, commented: "We believe that accelerating the transition to clean energy begins with delivering practical solutions tailored to the needs of the industrial sector. We are proud to partner with AlexFert through our Power Purchase Agreement model, which enables companies to benefit from clean, reliable electricity without upfront capital investment, enhancing business efficiency while delivering sustainable long-term value."
