Maryzad, a prominent player in the solar energy sector, is set to establish the inaugural logistics center catering to solar energy projects in Egypt and neighboring regions.
The Chairman of Maryzad Solar Co., Amr Baybars, revealed plans for the center, to be launched in the Suez Canal Economic Zone, with investments totaling approximately EGP 40 million.
The logistics hub aims to serve Egypt, Sudan, Saudi Arabia, Lebanon, and eventually Libya, providing necessary solar energy components to meet customer needs and shield the company from disruptions or price fluctuations. Maryzad plans further expansion in Egypt in the coming year, considering it as the company’s main market in the region.
Additionally, the company, in collaboration with Chinese firm Longi, plans to introduce new solar energy products in 2024, following a pricing strategy to benefit all customers and preserve the Egyptian market. Maryzad is exploring opportunities to expand into more foreign markets, especially in Arab neighboring countries, by forming partnerships and increasing its customer base.
Baggio Ting, General Manager of Longi in the Middle East and Central Asia, expressed the company’s intent to invest significantly in the Egyptian market due to its importance and strategic location. He highlighted challenges in the solar energy sector, including currency price fluctuations and supply chain issues.
Ting emphasized Longi’s commitment to sustainable cooperation with partners in Egypt, acknowledging the country’s potential in clean and renewable energies.
Longi has launched the Longi Academy branch in Dubai and plans to establish another branch in Egypt, offering free education to train customers on dealing with solar cells, components, maintenance, and logistical matters.
Maryzad aims to increase its customer base and enhance its skills through continuous training, contributing to the growth of solar energy projects in Egypt and foreign markets.
Egypt’s national goal includes increasing the share of new and renewable energy sources to 42% by 2030 and reducing emissions in the electricity sector by 80 million tons of carbon dioxide equivalent.
Source : Solar Quarter
