Elsewedy Electric, EDF switch on 130 MWp of solar parks in Egypt

Elsewedy Electric (CAI:SWDY) and EDF Renewables have achieved full commercial operation for two solar power plants in Egypt with a combined capacity of 130 MWp.

The two 65-MWp projects were developed as part of the second round of Egypt’s feed-in tariff (FiT) programme for solar and wind power. Elsewedy and the renewables arm of France’s EDF SA (EPA:EDF) built, own and operate the facilities in Benban, Kom Ombo, Aswan Province. The plants are able to produce some 290 GWh of electricity per year, which would be enough to cover the annual consumption of some 140,000 homes.

The projects were realised at a total cost of USD 140 million (EUR 126m), with USD 111 million provided by the European Bank for Reconstruction and Development (EBRD) and French financier Proparco.

The solar parks will sell their output to the Egyptian Electricity Transmission Company (EETC) under a 25-year power purchase agreement (PPA).

(USD 1.0 = EUR 0.903)

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