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The partnership aims to expand financing green and sustainable projects, including the Schneider Electric factory in Badr City and real estate projects to improve the efficiency of buildings and energy consumption.
Launching sustainable development projects in Matrouh Governorate that operate on solar energy
Abu Dhabi Commercial Bank – Egypt and Schneider Electric, the leading company in the field of digital transformation for energy management and automated control, announced the establishment of a strategic partnership through the signing of two memorandums of understanding, the first to establish a framework for cooperation to finance green and sustainable projects in Egypt. By providing microgrid solutions to Schneider Electric’s Badr Factory, and various real estate projects to enhance energy efficiency and sustainable use of natural resources and land. The second is to implement sustainable development projects in Marsa Matrouh Governorate, by establishing a cooled agricultural greenhouse, a water desalination unit, a fertilization unit that works with the latest technology to control the precise needs of the plant, and a unit for raising water from wells, all of which are powered by solar energy.
The memorandums of understanding were signed by Sebastian Reyes, President of Schneider Electric for North East Africa and the Levant, and Ihab ElSewerky, CEO of Abu Dhabi Commercial Bank Egypt.
Under the first memorandum, cooperation will take place between Schneider Electric and Abu Dhabi Commercial Bank to support green financing initiatives, the circular economy, and the sustainable use of natural resources and land. The memorandum of understanding aims to provide small grid solutions based on integrating various distributed energy resources with renewable solar energy resources for real estate projects in Egypt with the aim of improving Building efficiency and energy consumption, Smart energy distribution and storage services via microgrid, electric vehicle chargers, and irrigation and water systems. This is in addition to financing the microgrid network at Schneider Electric’s Badr Factory, which aims to use renewable energy with a capacity of 758 kilowatts through solar panels and small grid solutions to maximize its resources and take preventive measures to achieve sustainability.
On the other hand, under the second memorandum of understanding between Schneider Electric and Abu Dhabi Commercial Bank – Egypt, the parties agreed to implement sustainable development projects in Marsa Matrouh Governorate, with a contribution from the bank within the framework of its social responsibility, in order to bring about a positive change in society in the water, food, and energy sectors , Food Nexus” and providing technical support to the project by Schneider Electric, and training beneficiaries and users with the aim of improving the lives of people and communities in remote areas and below the poverty line, enabling them to manage the project sustainably. The signing also includes Jibal Agriculture, Sustainability and Livelihoods Company, which will execute the project, which includes establishing a cooled agricultural greenhouse, a water desalination unit, a fertilization unit, and a unit for raising water from wells, this technology will also contribute to lessening environmental impact by reducing carbon emissions and achieving significant savings in water consumption. It is expected that these projects will contribute to supporting 1,000 village residents, improving their standard of living, contributing to the production of 10 tons of agricultural crops per year, desalinating 3,650 cubic meters of water annually, and pumping 7,300 cubic meters of well water per year, in addition to producing 70 megawatts. /hour of clean energy.
Sebastian Reyes, President of Schneider Electric for Northeast Africa and the Levant, said: “Egypt aims to reach 42% of the energy mix based on clean and renewable energy, where the percentage currently stands at 12%. To achieve this goal, which is in line with Schneider Electric’s vision and strategy, it must The private sector and society are cooperating to achieve this vision and this is an essential part of Egypt’s 2030 plan, so we are committed to providing innovative and effective solutions that will make a positive impact in society by implementing projects that rely on clean energy and reducing carbon emissions.” He added, “We are keen to cooperate with reliable entities whose goals are united together in reaching a world with a positive climate, so we are proud to cooperate with Abu Dhabi Commercial Bank Egypt.” “Benefiting from the expertise of Jibal Company for Agriculture, Sustainability and Livelihoods, to change the lives of the people of Al-Najila village in Marsa Matrouh Governorate for the better, while at the same time achieving gender equality at work and creating sustainable jobs.”
While Ihab ElSewerky , CEO of Abu Dhabi Commercial Bank Egypt, said: “This partnership is a new step that we are taking in implementing the sustainability strategy of Abu Dhabi Commercial Group that the bank is implementing in Egypt, which is consistent with the directions of the Central Bank and Egypt’s Sustainable Development Strategy 2030, as well as the sustainable development goals of the United Nations.” Sustainable development at the present time has indeed become one of the priorities of countries, and it also comes at the top of the priorities of Abu Dhabi Commercial Bank, out of belief in the pivotal role that banks play in supporting the economy and the shift towards sustainability. Today, we join hands with the
international Schneider Electric Company to maximize the impact on society through expanding financing projects. Green and sustainable using the best technologies.
We are committed to supporting the shift towards environmental friendly practices and carbon reduction and helping our customers in their journey to shift towards a more sustainable future by providing innovative banking solutions to confront climate change. We are also committed to contributing to achieving community development, creating job opportunities, and improving the standard of living of individuals through effective partnerships.”
