The Egyptian Enara Group, the company working in the field of renewable energy, revealed its plans to offer its shares for public subscription and dual listing on the Egyptian Stock Exchange and one of the Gulf stock exchanges during the next year.

Enara Group Chairman Sherif El-Gabali said that the group is currently being restructured to prepare the offering plan and complete the investment plan in Egypt to establish projects to produce electricity from renewable energy and produce green ammonia.

Al-Jabali explained that among the group’s current projects is the silicon production complex in New Alamein on an area of 200 acres, in which more than $172 million is invested, noting that it is expected that the contractor to implement the project will be selected during the second half of this year, and that the work will begin. Construction before the end of next December.

Al-Gabali stressed that Egypt has promising opportunities on the African continent. Due to its strategic location and strong relations with African countries.

The project aims to maximize the added value of the natural resources available in Egypt, by producing high-value products instead of importing them worth millions of dollars.

This step comes after the Egyptian Enara Group ranked seventh among the fastest growing companies in Africa for the year 2024. As a result of the size of the projects it implemented in Egypt and African countries, including solar energy plants in Aswan Governorate and the New Administrative Capital.

Enara aims to expand renewable energy projects in Egypt, especially in the industrial and agricultural sectors.

Enara signed an agreement with Total to establish an ammonia plant to achieve zero carbon and rely on clean and renewable energy.