Energy Efficiency in companies (Egypt)
Challenge
Energy efficiency is a central element in the Egyptian national climate action. As part of this effort, Egyptian companies can take out loans with the purpose of restructuring their production so that it becomes more energy efficient, and the loans are repaid based on reduced energy consumption. The Environmental Compliance Office (ECO) of The Federation of Egyptian Industries has received development aid to create a revolving fund that provides such loans.
Egypt hosts COP27 in November of 2022. This has led to increased focus on implementation of climate and energy-related policies including accelerated use of the energy-loans program that is currently completely paper-based.
KEYWORDS
Thematic
Energy efficiency, industrial emissions
Legal
Development aid
Tech
Configurator, Climate Cloud
Solution
The F2 solution to support the issuance of loans to Egyptian companies to improve their energy efficiency has been configured and deployed within a few weeks as a cloud service. With the new F2 solution Egyptian companies can apply for loans via a self-service solution in English and Arabic. Loan applications are then processed in F2, and at the same time it will be possible for ECO to gain an overview of issue and status of loans as well as effects in relation to the realized energy-saving projects.
The solution was showcased at COP27 in Egypt i November 2022.
F2 Climate Software Solutions
