Egypt-based multinational energy solutions giant Elsewedy Electric, in a joint venture with EDF Renewables, has brought its two new solar plants under development in the country into full operation.
The two new sites, located near Benban in the country’s Aswan province, approximately 180 kilometres from Cairo, were developed as part of Egypt’s second round of renewable energies feed-in-tariff (“FiT”) programme for solar and wind energy, and boast a combined capacity of 130MW.
The estimated annual 290GWh of electricity produced by both projects will power more than 140,000 households while avoiding more than 120,000 tons of CO2 a year.
The projects are supported by a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company.
The projects, with a total investment value of approx. $140 million, were granted finance amounting to $111 million from the European Bank for Reconstruction and Development (EBRD), and France’s Groupe Agence Française de Développement (AFD).
Ahmed Elsewedy, CEO of Elsewedy Electric, said: “Having those two projects reaching commercial operation successfully today extends the IPPs-portfolio under Elsewedy Electric to include solar photovoltaics, in addition to our existing wind and hydro IPPs.”