Infinity Solar, Coca-Cola agree on establishing EGP 40m solar plant
Infinity Solar Systems and Coca-Cola have agreed to establish a solar power plant at the latter’s factory in Alexandria. The plant will produce 1.5 MW at a cost of EGP 40m.
Medhat Shokry, CEO of Infinity Solar Systems, said that Coca-Cola aims to develop its factory in Alexandria to operate on solar power and LED lights, which would improve the consumption of the factory to 97%.
He told Daily News Egypt that QNB ALAHLI and Banque Misr have agreed to finance the Green Company Project, which costs EGP 100m. The project will also include recycling wastewater, establishment of a solar plant, use LED lights, and improve electricity consumption.
He pointed out that Infinity will complete the establishment of the plant in six months from the date of signing the contracts, and will be linked to the national electricity grid according to the feed-in tariff policies.
Infinity had also signed a contract with Agricultural Exporters Association in Qena to install a solar plant in Abou Tesht area. The plant will have a capacity of 500 KV and cost EGP 6m.
Shokry said that the plant will provide the area with energy, adding that surplus will be sold to the Upper Egypt Electricity Production Company (UEEPC). The area of the plant is estimated at 11 feddans.
He pointed out that the company is currently obtaining the permits necessary and will soon discuss the power purchase agreement with officials at the UEEPC.
Moreover, he explained that the plant will benefit all peasants of the plant, as the consumption of the farm amounts to 330 KV per hour, while the capacity totals 500 KV per hour.