SolarizEgypt First in Egypt to Bring Industrial Solar Project to Multinational
Author: Zeina Foda, Communications and Development Analyst
SolarizEgypt, a market-leading certified solar solutions provider led by Endeavor Entrepreneur Yaseen Abdel-Ghaffar, was awarded a milestone project by global cosmetics group L’Oréal to develop and integrate a self-consumption system at the Company’s 10th of Ramadan Industrial Zone power plant.
“The L’Oreal project represents the first multinational to integrate a [megawatt] scale project into their energy mix, paving the way for other industry players to follow suit,” said Yaseen, CEO and Co-Founder of SolarizEgypt. “The current project represents Phase One of a three-phase process to make L’Oreal’s facility one of the first carbon neutral factories in Egypt.”
Due to launch in September 2017, SolarizEgypt’s self-consumption system along with the Egyptian government’s net-metering option will allow L’Oreal to save 100% of its electricity billing as well as transferring surplus electricity to the power grid to be consumed later in credit.
The project’s reliance on minimizing electricity consumption also brings environmental benefits to Egypt. Of the three phases of the project, Phase One alone will have an environmental impact equivalent to annually planting 713 trees, cleansing air by 28,274 trees, eliminating 956 tons of carbon and powering 158 homes.
With the integration of renewable solar energy into L’Oreal’s power consumption, SolarizEgypt hopes to lead awareness on Egypt’s solar industry and the utilization of renewable energy systems to minimize electricity consumption and thus create greener spaces across Egypt.
In 2015, L’Oréal announced the inauguration of its state-of-the-art 10th of Ramadan plant, its first factory in the Arab World at a staged investment totalling 50 million euros. In a recent interview to UAE-based Gulf News Thierry Houssin, Managing Director at L’Oreal Middle East, emphasized the Company’s focus on sustainability to reduce its carbon footprint. By 2020, the article explained, L’Oreal plans to reduce its environmental footprint by 60% while bringing its products to one billion new customers. It also plans to innovate so that 100% of its products have an improved environmental and social profile by 2020.
L’Oréal is the number one cosmetics group worldwide, present in 140 countries on five continents. The group’s mission is to provide the best in cosmetics innovation to women and men around the world with respect for their diversity.
SolarizEgypt is a market-leading certified solar solutions provider that designs, installs, and commissions photovoltaic solar power plants, offering solutions to supplement the power supply of residential, commercial and industrial entities. SolarizEgypt’s Founder and Managing Director Yaseen Abdel-Ghaffar was selected as an Endeavor Entrepreneur at Endeavor’s 68th International Selection Panel at Palo Alto, December 2016.