INGELEC, a leading manufacturer of electrical sockets and other electrical components in Morocco, experienced a significant energy price increase and raw material price fluctuations in a highly competitive market.
The company addressed MorSEFF for financing of rehabilitation of production lines across its four main sites to reduce the energy consumption and stay competitive.
The project included the purchase of a galvanizing machine, injection moulding machines, compression presses and welding machines.
MorSEFF supported Ingelec with loan financing and the choice of highly performing production technologies, which lead to the reduced energy consumption and emissions.
The €2 million project allows the company to reduce its energy consumption by nearly 5,000 MWh per year, generating substantial cost savings. Low energy costs mean more resilience to energy price fluctuations at the liberalized market, lower net production costs and higher margins. All this enhances the company's financial standing now and in future.
In addition, the project improves the production processes, allowing to be more time and cost efficient, and delivers a positive environmental effect from the reduced CO2 emissions - a benefit both locally and globally.
This project demonstrates that energy savings may occur in every industry and type of production, decreasing one of the most intensive components of the company’s net costs – the energy bill.