The Egyptian government have inked on Wednesday a $120 million deal with Renergy Group Partners (Reenergy) to found the first waste-to-energy power plant.
The Minister of Environment, Yasmine Fouad highlighted how waste management is closely linked to the global challenge of climate change. Waste constitutes the second largest source of emitting green-house gasses in Egypt, Fouad outlined.
Ahmed Rashed, Giza Governor stressed how sustainably managing waste is one of the main challenges Egypt is facing. Transforming waste to energy would not only solve the challenge, but will also produce electricity and reduce emissions.
CEO of Renergy, Robert Valk explained the new plant will process 1,200 tons of household waste, turning them into a renewable energy source. The project will also inject $120m of investments in in the Abu Rawash industrial zone located in Giza. Furthermore, it will initiate the process of localizing a new industry in Egypt, Valk elaborated.
