Investment opportunities in the transformation of commercial facilities to energy efficiency
On March 10th, 2016, the United Nations Development Programme (UNDP), the Ministry of Electricity & Renewable Energy, Ministry of Tourism and the Egyptian Business Association (EBA) organized an event which aims to demonstrate the investment opportunities in transforming all commercial facilities in Egypt to LED lighting systems offering the shortest payback period for any energy efficiency intervention.
The event took place at Conrad hotel in presence of UNDP Country Director Ignacio Artaza, Minister of Electricity H.E. Dr. Mohamed Shaker and EBA Chairman of Businessmen Association Engineer Hussein Sabbour and Advisor to Minister of Tourism Mr. Emad Hassan. It was also an opportunity to celebrate converting the lighting systems in Conrad Hotel to efficient lighting systems.
The event gathered representatives from the Ministries of Electricity and Tourism, government officials, businessmen and UNDP.
In his speech, UNDP Country Director Ignacio Artaza congratulated “The Conrad” management for the transformation of the hotel’s lighting systems into LED; becoming among the first hotels in Egypt to embark on such initiative. He mentioned that encouraging results are witnessed with the implementation of 20 pilot projects for different types of buildings including banks, hotels, residential compounds, public buildings, shops, supermarkets, street billboards, and others.
From his side, Engineer Hussein Sabbour encouraged businessmen to invest more in energy efficient lighting systems. Through the new measures implemented by the ministry, Egypt is moving towards having a surplus in electricity.
Minister of Electricity Mohamed Shaker ensured that LED lighting systems are encouraged to reduce energy consumption. The energy sector with the help of the ministry bought 13 million LED bulbs and currently working on their dissemination. They are also working on awareness campaigns to promote energy efficiency good practices among people and businesses.
Advisor to the Minister of Tourism Emad Hassan mentioned that hotels are shifting to energy efficient lighting systems and this is a key factor in moving to green tourism. This shift is benefiting these buildings technically and financially.
More and more commercial facilities are joining the transformation to energy efficiency measures. The Commercial International Bank (CIB), a famous Egyptian bank, is currently working on converting its lighting systems in all its 160 existing branches into LED. Metro; a well-known supermarket chain is also implementing the second pilot project to verify that the payback period is just few months and will accordingly upscale replication to all its branches around Egypt. Carrefour has converted one its branches to LED and is currently setting a plan to convert all branches
The Energy Efficiency project is encompassed within the global partnership initiative of the Global Environment Facility (GEF), United Nations Environment Programme (UNEP) and UNDP to phase-out inefficient lighting systems and, hence, reduce costs for consumers, so-called the “Global Market Transformation for Efficient Lighting” initiative.