Paris, October 26, 2017 – EDF Energies Nouvelles and the ELSEWEDY ELECTRIC Group will build and operate two photovoltaic power plants in Egypt, with a total installed capacity of 100 MWAC. Both projects are co-owned by the partners. The financial close of the project was achieved on October 25. These projects are accompanied by a 25-year power sales contract (PPA) with the Egyptian Electricity Transmission Company (EETC).
Located in southern Egypt, the two projects are part of the 1.8 GW Benban Solar ComplexAC. They were developed as part of a national electricity feed-in tariff program.
EDF Energies Nouvelles and ELSEWEDY ELECTRIC, each winner of a project with a power of 50 MWAC as part of the second phase of tenders for solar PV projects in Egypt, have entered into a partnership agreement to jointly develop, construct, operate and own the 100 MW facilityAC. The projects will be co-led by the partners.
This partnership marks the return to Egypt of the EDF Group as an independent electricity producer. This is, moreover, the first independent electricity production project for ELSEWEDY ELECTRIC in the field of renewable energies. The projects both benefit from financing from the European Bank for Reconstruction and Development (EBRD) and Proparco.
Work is expected to begin during the first quarter of 2018, following approval from the Egyptian authorities.
The Benban solar complex will contribute to the Egyptian government's goal of producing 20 % of renewable energy by 2020.
“By entering Egypt alongside the ELSEWEDY ELECTRIC Group, a company recognized in the region, EDF Energies Nouvelles is strengthening its positions in the North African renewable energy market. The Benban solar project is part of the EDF Group's CAP 2030 strategic plan, the objective of which is to double its capacities in the field of renewable energies in France and around the world by 2030. declared Antoine Cahuzac, Executive Director of the EDF Group in charge of renewable energies, and Chairman and CEO of EDF Energies Nouvelles.
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EDF Energies Nouvelles:
Manon of Cassini-Hérail ▪ tel. : +33 (0)1 40 90 48 22 ▪ email: manon.decassini-herail@edf-en.com
Clarisse Placidoux ▪ tel. : +33 (0)1 40 90 49 46 ▪ email: clarisse.placidoux@edf-en.com
About EDF Energies Nouvelles
EDF Energies Nouvelles is an international leader in renewable electricity with an installed capacity of more than 10 GW gross worldwide. Its development is mainly focused on wind power and photovoltaic solar power. Mainly present in Europe and North America, EDF EN continues its development by taking a position in promising emerging markets such as: Brazil, China, India, South Africa and the North African regions. and the Gulf. The Company, which is strongly positioned in the offshore wind sector, is also present in other renewable energy sectors: marine energies, distributed energies as well as energy storage. EDF EN ensures the development and construction of renewable energy projects as well as their operation and maintenance, for its own account and on behalf of third parties. EDF Energies Nouvelles is the subsidiary of the EDF group dedicated to the development of renewable energies. For more information : www.edf-energies-nouvelles.com
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