An Investment Valued at 20 Million EGP: Raya Foods Officially Announces Adopting Solar Energy

  • By : Mohamed El Kholy

     

     

    In line with the national efforts aimed at adopting clean energy, Raya Foods - the leading corporate in the food industry and a subsidiary of Raya Holding for Financial Investments - announced that it has signed a partnership agreement with Infinity Power, a prominent enterprise in the field of power generation through renewable energy sources.

     

    Under the partnership, Raya Foods’ factory in Sadat City shall be partly operated by solar energy (up to 30 to 40 percent). Under the phased implementation plan, the first phase of operations has been scheduled to start within the fourth quarter of 2021

     

    Reliance on solar energy has become the ideal choice for big factories, such as Raya Foods’ factory,” said Omar Abd El-Aziz, CEO of Raya Foods, commenting on this step.

     

    He noted that Raya Foods - through all its operations - strives to keep pace with the national development vision aiming to safeguard the environment - as Raya’s vision and mission align with sustainable development goals (SDGs) and it prioritizes the environmental dimension of its work.

     

    Under the partnership, Infinity Power provides Raya Foods’ factory with solar panels to generate green electricity, he added.

     

    This step is environmentally and financially beneficial, as it helps reduce the factory’s environmental footprint and saves tremendous amounts of money spent to purchase fuel. In addition, the solar panels will not take a long time to be installed,” added said.

     

    Omar noted that Raya Foods is one of the first companies in the field of food industry to take such a step. This will save over up to 35% of the non-eco-friendly energy, as the new project will provide the factory with up to 1.8 megawatts to meet its needs for energy.

     

    He added that the cost of this transformation to adopt solar energy is about 20 million EGP. It is expected to start the phase of implementation within the next few months.

     

     “We are pleased to cooperate with Raya Foods to help achieve its goals and expand the use of clean energy, as one pillar of its investments aimed at creating a green and sustainable future in Egypt,” said Nayer Fouad, CEO of Infinity Power.

     

    “Once completed, the solar power plant at Raya Foods is expected to reduce carbon dioxide emissions by up to 21,894,4 tons over 20 years. We look forward to more cooperation and partnerships with Raya in the coming years, to support environmental conservation efforts and achieve sustainability,” he added.

     

    Established in 2020 as a joint venture between Infinity and Masdar, Infinity Power operates power generation projects through renewable energy sources, namely solar and wind technologies, on the utility-scale and commercial and industrial scales in Egypt, Africa and the Levant. Infinity Power adopts the latest technical solutions and technologies, and is working to implement the largest solar power plant in Africa and the Middle East in Aswan.

     

    The parent company “Infinity” was established in 2014 and is the only company specialized in providing renewable energy solutions in the Egyptian market, while Abu Dhabi Future Energy “Masdar” was established in 2006 and provides renewable energy solutions and sustainable urban development.

     

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