Cairo - Mubasher: The board of the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) has approved granting Abu Qir Fertilizers and Chemical Industries Company a license to operate electricity generation from a solar power station under the self-consumption system.
The solar facility, with a total capacity of 2.60 megawatts (MW), will be installed within the company’s production plants and will operate for a period of 15 years, according to a bourse filing.
The project is expected to reduce power consumption from the national grid and internal generators while improving operational efficiency and lowering the company’s carbon footprint, which supports its sustainability initiatives.
It is worth noting that during the first quarter (Q1) of fiscal year (FY) 2025/2026, Abu Qir Fertilizers registered an annual increase of 1.98% in net profits after tax to EGP 1.30 billion, compared with EGP 1.28 billion.
