EDF Renewables aims to implement two solar power plants with a capacity of 130 MW in the second phase of the feed-in tariff system, in cooperation with El-Sewdy Electric. Both are expected to be completed in the first quarter of next year.
EDF Renewables’ manager in Egypt, Mary-Astrid Biancher, said that they put a positive long-term strategy for the Egyptian renewable energy market, with plans to increase their investments and production capacities in the coming years.
She added that after setting up EDF Renewables in Egypt a few months ago, the company has been working to affirm the presence of the EDF Group in Egypt. The company has also participated in the construction activities of the Benabn solar park, which will see over 20 years of work.
Biancher noted that EDF Renewables will continue to support the development of the renewable energy industry in Egypt through participation in future projects.
Egypt has a large market for the energy sector, although some experts and companies believe there is a saturation situation, noting that the government entered into contracts to launch power plants with a capacity of 14,800 MW, she explained.
She stressed that the feed-in tariff projects have succeeded significantly, and opened the market for Arab and international companies to invest through different contractual systems introduced by the New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company (EETC).
The developments in the past years after the announcement of the feed-in tariff contributed to creating a competitive market between developers, and all companies are intensifying their work to complete the launch of stations and the sale of energy produced to the EETC, Biancher indicated.
She pointed out that qualifying all companies competing to establish a 600 MW solar power plant west of the Nile emphasises the attractiveness of projects to investors and the demand of Arab and international companies to compete for the tender.
Egypt has carried out strong positive reforms with enormous effects, such as the flotation of the Egyptian pound, in parallel to the signing of contracts with the EETC to buy energy from solar projects, which boosted confidence of investors, she clarified.
“The positive environment for investment is one of the most important factors of success to ensure sustainable development,” she stressed.
Moreover, she said that EDF Renewables welcomes the implementation of new and renewable energy projects in all its forms, and has the ability to adapt to the needs of the client in the scheme they deem more appropriate, and to provide the best competitive proposals and matching in this context, in order to improve the quality of their competitiveness.
The investor needs to speed up the completion of required documents, especially that the companies need to set a schedule for procedures and implementation, which could raise the costs if they do not commit to the plans, she pointed out.
EDF is one of the 32 companies that signed the power purchase agreement in Benban, Aswan, with the EETC as part of the feed-in tariff projects. All the plants are expected to be ready by the second half of next year.