Lafarge Egypt and Lumika sign US$93m solar power pact

Holcim-owned Lafarge Egypt has signed a US$93m long-term agreement with Lumika Renewables Egypt, part of the AP Moller Egypt, to generate 140GWh of solar energy annually, according to Mist News.

The two companies will establish a new 50MW power plant – the first plant owned by Lumika in Egypt. The plant will enable Lafarge to use clean energy for 50 per cent of its cement works’ energy consumption.

The agreement comes into force by the first quarter of 2024.