SOLARIZE & AMARENCO SIGN AN ACQUISITION & JOINT-VENTURE
Amarenco Group and SolarizEgypt announce the establishment of a new partnership in Egypt. This definitive agreement between both parties agrees that Amarenco shall acquire 74% of SolarizEgypt’s portfolio and co-develop 300MW of assets at an estimated budget of 4 billion Egyptian Pounds (255MUSD) in the next four years.
This Joint Venture between both parties is referred to as “SolarizEgypt | Amarenco & Co.
This acquisition and partnership will leverage both companies’ strong knowledge and expertise to provide the best-in-class services to the Egyptian energy sector.
The new Joint-Venture will invest in developing Solar Energy projects in Egypt. As a result, clients will be offered a clean source of electricity at a discounted rate, which will help them be more competitive and reduce their carbon footprint.
Amarenco invested more than 500 million euros in Solar Development globally, and Solarize is already well-established and one of the market leaders in its segment. The synergies will allow the Joint-venture to consolidate its position within the industry.
” The Egyptian Energy market is one of the largest markets in Africa and MENA region with ambitious targets for a transition towards renewables and decarbonization. We at Amarenco are committed to investing heavily in the Egyptian market to provide the local community with cleaner, sustainable, and cheaper sources of electricity ” Yazan Faouri, Amarenco CEO in the Middle East & North Africa.
“ We’ve seen time and time again that partnerships between strong local players that possess the market knowledge and depth coupled with international players that have the financial muscle and scaling expertise are where the magic happens. This partnership represents a milestone for the renewable sector and is a strong vote of confidence for FDI in Egypt. ” Yaseen Abdel-Ghaffar-Founder of Solarize Egypt.
Egypt's Cleanest Energy Source For Your Business
Hedge against future electricity price increases for a lifetime of sustainable solar energy. When the alternative is not only cleaner but cheaper, there is no reason to stay in the dark. SolarizEgypt is offering you a golden opportunity to be part of the green movement without bearing any of the cost.
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Just a few that have been solarized
EGP 75,000,000
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FMCGs
EGP 164,000,000
ESTIMATED SAVINGS
Touristic Areas
EGP 78,000,000
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Desalination Plants
EGP 46,000,000
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Cement Companies
EGP 13,000,000
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Agricultural Projects
EGP 77,000,000
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Residential Projects
EGP 453,000,000
Estimated Savings in 25 Years
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