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20-08-19
2 solar project launch commercial operation in Egypt
(MENAFN) Egypt was announced to have inaugurated commercial operations of a couple of new massive solar projects, valued at USD140 million, presenting a capacity of 130 megawatt.
Elsewedy Electric formed a joint venture with EDF Renewables for the development funding and establishment of the two photovoltaic plants.
The Bank for Reconstruction and Development and France's Proparco extended USD111 million of funding for the project.
President and chief executive of Elsewedy Electric Ahmed Elsewedy stated: "having those two projects reaching commercial operation successfully today extends the IPPs [independent power projects] portfolio under Elsewedy Electric to include solar photovoltaic in addition to our existing wind and hydro IPPs."
MENAFN2008201900450000ID1098902104
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