Cairo – Mubasher: TAQA Volt, a subsidiary of TAQA Power which is the electricity operating arm of the listed TAQA Arabia group, has collaborated with Wadi Degla Developments to endorse optimising electric vehicles (EVs) and sustainable living solutions.
Upon the partnership, TAQA Volt will install more than 14 EV charging stations across Wadi Degla’s real estate projects, according to a press release.
Commenting on the collaboration that comes in line with Egypt’s 2030 sustainability vision, Managing Director of TAQA Power, Samy Abdel Kader, pinpointed TAQA Volt's contribution towards Egypt's shift to electric mobility, highlighting its status as the first licensed EV charging company in the country.
TAQA Volt has already set up more than 100 operational charging stations.
Abdel Kader said: "Our objective is to scale up our infrastructure to meet the growing appetite for electric vehicles."
He added: "Our collaboration with Wadi Degla Developments will entail the installation of charging stations designed to be compatible with all EVs, prioritising durability, reliability, and user-friendliness to ensure customer satisfaction.”
The official further said: "With 40 % of customers hesitant to transition to EVs due to the limited number of current charging stations, this initiative perfectly aligns with our mission to expand the EV charging infrastructure in response to the escalating demand, thereby supporting Egypt's 2030 sustainability vision.”
From his part, CEO of Wadi Degla Developments, Raymond Ahdy, noted: “This shift in consumer behavior towards greener mobility solutions highlights the imperative need for a robust EV charging infrastructure, a primary focus of our partnership with TAQA Arabia.”
According to a recent survey, more than 30% showed interest in shifting to EVs over the coming five years, while 90% are expected to be driving one EV within the next 10 years.
Ahdy concluded: “Adding EV charging stations is a pivotal aspect of our sustainable development strategy, aligning with customer preferences for eco-friendly living solutions. This not only strengthens our commitment to sustainability but also positions our developments as contemporary and responsive to market trends."
It is worth mentioning that the listed TAQA Arabia generated net profits worth EGP 557.20 million in 2023 and revenues of EGP 13.46 billion.
