IRSC signs 30-year PPA to operate 27-MW solar power plant
Updated 1/8/2026 2:31:00 PM
Arab Finance: IRSC for Renewable Energy Solutions penned a power purchase agreement (PPA) to secure financing, and construct and operate a 27-megawatt solar power plant, according to a statement
Under the 30-year deal, IRSC will supply El Nahda Industries Company with renewable electricity at competitive prices.
IRSC’s subsidiary will manage and execute all phases of the project, including financing, engineering, procurement, construction, operation, and maintenance. This will be executed in accordance with the highest occupational safety and health standards and environmental requirements.
Witnessed by Minister of Public Business Sector Mohamed Shimi, the signing aligns with Egypt’s drive towards promoting a green economy and expanding the use of clean energy.
It also comes within the ministry’s strategy to achieve sustainability and increase reliance on renewable energy sources.
Shimi pointed out that relying on renewable energy sources enhances the competitiveness of companies, meeting the requirements of the European Carbon Limits Mechanism (ECLM), which contributes to strengthening the presence of their products in global markets, particularly in the European Union (EU).
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