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Enara mobilizes over $ 250 m FDIs into Benban project
Enara company managed to mobilize over 250 million dollars of foreign direct investments in the Egyptian solar project of Benban, Director of Enara Corporate Affairs Yasmine Abdel Aziz said in a speech delivered on behalf of the company’s Chairman Sherif Gebali at the the third edition of the Forum on Strategies for Transition to Green Economy.
Enara company started in 2014 in the Benban solar project – which was launched by the Egyptian government – was a huge opportunity for public private partnership.
“Enara only was able to develop, produce and serve over 200 megawatts of renewable power,” she said.
“This was possible because the Egyptian government created the conducive environment for such project to take place and this is where we started …in the renewable energy,” she said.
Meanwhile, she expounded how the company serves the Environmental, social, and governance (ESG) criteria and sustainable development.
She said when companies need to cut their carbon footprint, they have to work with companies like Enara and this is how Enara is engaged in socially responsible business and in public private partnerships within the framework of the national strategy 2030 for sustainable development.
She also noted that the Enara was working with the New Valley governorate – which is the biggest in Egypt and mostly desert – to convert a certain number of water pumps to use solar energy in lieu of diesel oil.
This falls within the framework of the Egyptian government’s efforts to convert from diesel oil to solar power in order to cut the footprint.
She added that the greening of such areas has not only cut footprint, but also generated job opportunities and empowered women.
She also referred to the company’s contribution to the New Administrative Capital as all buildings there have to have solar rooftops.
Enara is currently delivering the first phase of the ministerial buildings so it is very exciting to be part of this “New Egypt.”
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