Intro Sustainable Resources (ISR), through its power and utilities arm, is powering the most prominent environmental event in Egypt:
ISR’s JV with Gila-AlTawakol Electric Ltd is building a 5 MW solar PV power plant in Sharm El Sheikh to power the COP27 conference buildings. The plant will generate circa 13 GWh of renewable energy annually, offsetting more than 6,000 tons of CO2 annually. The development of the plant comes as part of the Egyptian government’s preparations for hosting the COP27 in Sharm El Sheikh in November 2022. This is Intro’s second power plant in Sharm Elsheikh, considering the operational 5 MW PV power plant connected to the Egyptian Electricity Network under the Feed-in Tariff Phase I Framework in 2017. These projects are Intro’s fulfillment of the agreement signed with the South Sinai Governorate to develop 40 MWs of solar PV Capacity in line with Egypt’s target to cover 42% of the country’s electricity needs by 2030 through renewable energy capacity. Once built, the plant will contribute to the country’s plans to decarbonize the energy sector and meet its targets under Egypt’s Intended Nationally Determined Contributions (INDCs) towards achieving the objectives of the United Nations Framework Convention on Climate Change (UNFCCC).