Egypt’s integrated energy and infrastructure solution provider Elsewedy Electric has reached the full commercial operation successfully for its two solar photovoltaic (PV) power plants, developed as part of EGYPT’s Round II of the Renewable Energies Feed-in-Tariff (FiT) program for solar and wind energy projects, Invest-Gate reports.

Elsewedy Electric, jointly and equally with Électricite De France’s EDF Renewables, developed, financed, built, own, and will operate the two projects located in Benban, Kom Ombo, Aswan governorate, according to a press release on August 19.

The projects’ capacity is 130 (2×65) megawatt peak. The estimated annual 290 gigawatt hours of electricity produced by both projects will power more than 140,000 households while avoiding more than 120,000 tons of carbon dioxide a year, the statement added. The projects are aimed to supply green energy to the off-taker, the Egyptian Electricity Transmission Company (EETC), under a twenty-five-year power purchase agreement (PPA).

“Having those two projects reaching commercial operation successfully today extends the IPPs-portfolio under Elsewedy Electric to include solar photovoltaic in addition to our existing wind and hydro IPPs being one of the pioneer companies in the region with such diversified portfolio of investment and management to in renewable energies supplemented by our proven references as main EPC-contractor for the three technologies,” according to Ahmed Elsewedy, president and CEO of Elsewedy Electric.

With a total investment value of around USD 140 mn (EGP 2.32 bn), the projects were granted finance amounting USD 111 mn (EGP 1.84 bn) from the European Bank For Reconstruction And Development (EBRD) and the French PROPARCO (Groupe Agence Française de Développement – AFD).