Lumika signs its first purchasing power agreement
Friday, 3 June 2022
“ Lumika Renewables, a joint venture between A.P. Moller Capital and Reunert, is a Commercial and Industrial (“C&I”) renewable developer in Africa. Lumika expands with its first project in Egypt with a signed agreement to develop, construct and provide electricity to Lafarge Egypt. The project, with a capacity of 50MWac, will be the largest C&I project on the continent with the aim to start electrical production in Q1 2024.
The goal of the project is to reduce Lafarge Egypt’s carbon footprint by providing clean reliable power to its cement factory for its daily operations. Lumika Renewable has committed to a Net Zero emissions target by 2040, a goal that is the driving force behind Lumika’s offering to its clients and future customers to reduce their dependance on fossil fuels”.