Elsewedy Electric, jointly with Électricite De France’s EDF Renewables, developed, financed, built, owned and operated two solar PV power plants (each of 65 MWp) in Benban, Aswan, under energy feed-in-tariff program launched by the Egyptian government, under a 25-year power purchase agreement (PPA).
Our Two Solar PV power plants commenced operations in August 2019
The Egyptian government has allocated a 37.5 km² plot of land located in North Aswan (“the Benban Site”) for the development of 1800 MW Solar Energy Power Plants. The land was divided into 39 separate but contiguous plots, which was made available to the Project Companies to implement individual projects.
Project Duration/Status: Project delivered
Type of Construction: Solar PV Power Plant
Nominal DC Capacity: 2 x 65 MWp
Modules: Polycrystalline double glass (200,010 JA solar modules 325 w)
Structure: Trackers single axis HZ (2223 trackers PVH tracker)
Inverters Type: Central Inverters (15 nos. ABB SKID inverters)
Total Area: 1,072,500 m2
Elsewedy Electric has started commercial operation of two solar photovoltaic projects that were developed within the second phase of the government-initiated feed-in tariff for solar and wind power.
Elsewedy Electric entered into an equal partnership with the EDF’s subsidiary, EDF Renewables, to develop, finance, build, own, and operate two projects in Benban, Aswan governorate, about 830 km south of Cairo, with a capacity of 130MW, providing power to more than 140,000 households and preventing more than 120,000 Tonnes of CO2- equivalent emissions annually.
The two projects have investments of about $140m, with loans of $111m financed by the European Bank for Reconstruction and Development (EBRD) and the French Finance Corporation (Proparco) of the French Development Agency Group. Both financiers contributed equally in financing the two projects that supply clean energy to the Egyptian Electricity Transmission Company (EETC) under a 25-year energy purchase contract.
The EETC buys the energy at 8.4 dollar cent per kW/h. The payment includes 30% calculated at the exchange rate when the tariff was issued, and 70% at the exchange rate on due date.
The Ministry of Electricity aims to produce 20% of the total electricity through new and renewable sources of energy by 2022, and the percentage will increase to 47% in 2037.