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United Arab Emirates EBRD and EU help provide clean power to Egyptian tourism hotspot
April 17, 2025
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Through our Green Economy Financing Facility and thanks to the support of the European Union, we helped local developer Orascom sign an agreement with SolarizEgypt to design and build a solar plant in the area. The investment has helped the city reduce its electricity costs and secure a clean energy source for the next 25 years, reducing the town’s electricity costs by 12 per cent and cutting El Gouna’s annual CO2 emissions by 8,418 tonnes.
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Egypt
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