EIGHTEEN, a joint real estate venture of Egypt-based Ora Developers, and Saif Group and Kohistan Builders (KBD) of Pakistan, has signed an agreement with TAQA Power for the electrification of “EIGHTEEN project” and to put in place an effective distribution network to meet the developers needs with a highly reliable & effective power solutions, according to a press release.
Located just 10 minutes from the New Islamabad International Airport, the grand project occupies a focal place in the twin cities.
Under the agreement signed between Eighteen’s CEO Tarek Hamdy and TAQA Power’s Managing Director, Samy Abdelkader, TAQA Power will provide the full energy solution for EIGHTEEN which includes designing and building of a distribution network as well as a power source, including backup generation and solar plant for both a reliable and green solutions for Eighteen’s customers.
Eighteen’s CEO, Tarek Hamdy, said about agreement, “We are delighted to have TAQA Power onboard to provide the best electrical infrastructure and optimized solutions for our residents. This agreement is a milestone for the development of the project as it is a first of its kind to be implemented in Pakistan, entailing long term development over a period of about 15 to 20 years”.
TAQA Power’s Managing Director, Samy AbdelKader, commented, “It’s a great privilege to be selected by Elite Estates Private Limited, the developer of EIGHTEEN project, for a power plan that matches the highest standards and adopt green energy solutions. Pakistan is a promising market in South Asia and with our regionally significant reputation in the power sector, this partnership will reap great benefits for both. We hope to leverage this cooperation towards more fruitful projects with Elite Estates in the future.”
TAQA Arabia’s CEO, Pakinam Kafafi, added, “I am very pleased with this project and our collaboration with ORA development as a strategic partner to TAQA Arabia and its subsidiaries for suppling their development projects with sustainable energy & utility solutions in Egypt and elsewhere around the world.”