Table of Contents
Key Points
• Oriental Weavers and IRSC partner to install a 2.5-MWp solar power plant. • The project, worth $1.5 million, supports Oriental Weavers' sustainability strategy. • The solar plant will reduce carbon emissions by 4,000 tonnes annually.
Cairo-based Oriental Weavers, owned by the Khamis family, has announced a strategic partnership with Integrated Renewable and Sustainable Communities (IRSC) to install a 2.5-MWp solar power plant. This $1.5-million project is part of Oriental Weavers' ongoing commitment to sustainability and decarbonization, in alignment with Egypt’s Vision 2030.
The solar plant is expected to provide four percent of the electricity required by the company's largest production facility in the 10th of Ramadan City. Additionally, it will reduce the company’s carbon emissions by 4,000 tonnes annually, reinforcing its role in sustainable energy practices and environmental stewardship.
Over the past four years, Oriental Weavers has actively pursued energy efficiency initiatives, successfully cutting its carbon emissions by 35,000 tonnes. This latest solar power project further intensifies the company’s efforts toward sustainable development and supports UN Sustainable Development Goals (SDGs).
Executive Insights
Yasmine Khamis, chair of Oriental Weavers Carpets, emphasized the company's deep commitment to environmental responsibility. “It’s not just lip service, but a way of life that permeates all our activities,” she said, highlighting the company’s dedication to reducing its carbon footprint and contributing positively to the environment.
Andrew Daniel, chairman of IRSC, noted the growing importance of renewable energy in industrial applications. He praised the project, saying, “This demonstrates the vast potential of solar energy to power large-scale operations while supporting Egypt’s renewable energy goals.”
Financially, Oriental Weavers has seen success alongside its sustainability initiatives. The company reported a strong financial performance for the first half of 2024, with net profits rising to EGP 1.47 billion ($30 million), compared to EGP 733.39 million ($15 million) in the same period the previous year. This growth underscores the financial viability of the company's long-term commitment to sustainability.
Oriental Weavers' partnership with IRSC marks a significant step forward in the company’s journey toward environmental sustainability, energy efficiency, and corporate social responsibility.
