Arab Finance: The New Valley Company for Mineral Resources and Oil Clay (Wadico) signed an agreement with Asunim Egypt, a subsidiary of the global Asnim Solar Energy Limited Group, to establish a solar power plant in Aswan, according to a statement.
The project, the first of its kind to integrate an off-grid system, marks a qualitative leap in the Egyptian mining sector.
Amgad Abdel Razek Ghoneim, the Chairman and Managing Director of Wadico, stated that the plant will achieve annual savings of 2.6 million liters of diesel fuel.
The joint venture will reduce traditional fuel consumption and cut operating costs, contributing to lowering the country's fuel import bill in line with the Petroleum Ministry's strategy.
The plant has a capacity of 3.2 megawatts (MW), which is expected to power electric mining equipment (three dump trucks and two loaders).
It will also supply three phosphate ore crushing production lines and operate the facilities, including camps and administrative buildings.
This model represents the first industrial operation in the Egyptian mining sector to rely on renewable energy.
Moreover, the project contributes to reducing carbon dioxide emissions by 7,300 tons annually, supporting the country’s international environmental and climate commitments.
