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In July 2018, we announced a brand-new partnership with HA Utilities, the utilities arm of leading regional construction and engineering group Hassan Allam Holding (HAH), to launch an Egyptian solar platform, with headquarters based in Cairo.
The venture, Lightsource BP Powered by Hassan Allam Utilities, is dedicated to funding, developing and operating solar projects locally and across the region, offering Egyptian commercial and residential customers world-class solutions in solar energy and energy storage.
As part of our ambitions to accelerate the low-carbon transition worldwide, Egypt is the perfect new market for Lightsource BP. The country is set to become a global leader in solar power generation, with the world’s largest solar park (1.6 Gigawatts-Peak) in Benban due to become operational in 2019, and renewable power is targeted to account for 20% of Egypt’s energy mix by 2022. The 2018 partnership is designed to leverage Hassan Allam Holding’s impressive 80-year Egyptian construction and engineering expertise and longstanding relationships, as well as Lightsource BP’s track record in delivering utility scale solar projects around the world. HAH is the ideal partner for Lightsource BP, as renewable energy is a natural fit with HAH’s existing construction, engineering, and building materials divisions.
For more details, including statements from the stakeholders, see our press release.