Elsewedy Electric S.A.E (SWDY), a leading Integrated Energy and Infrastructure Solution Provider in the Middle East and Africa, reached the full commercial operation for its two solar photovoltaic power plants developed as a part of Egypt’s Round II of the Renewables Energies Feed-in-Tariff program for solar and wind energy projects launched by the Government of Egypt.
Elsewedy Electric, jointly and equally with Electricite De France’s EDF Renewables, developed, financed, built, own and will operate the two projects located in Benban, Kom Ombo, Aswan Provenance, approximately 830km south-Cairo. The projects capacity is 130 MWp. The estimated annual 290 GWh 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 with a total investment value of approximately US$140 million, were granted finance amounting US$11 million from the European Bank for Reconstruction and Development (EBRD) and the French PROPARCO (Groupe Agence Française de Développement – AFD). Both reputable financiers have equally financed the projects which will supply green energy to the off-taker, the Egyptian Electricity Transmission Company (EETC), under a twenty-five years power purchase agreement (PPA).
