El Sewedy Electric announced the commercial operations for its two photovoltaic (PV) power plants developed as a part of the second phase of the renewable energies feed-in-tariff program launched by the Egyptian government, according to the company’s statement.

The projects’ capacity is 130 megawatt peak (MWp), with estimated annual 290-gigawatt per hour (GWh) of electricity produced by both projects, which will power more than 140,000 households while avoiding more than 120,000 tons of carbon dioxide emissions a year.

The two $140 million-projects were financed with an amount of $111 million by the European Bank for Reconstruction and Development (EBRD) and the French Proparco, equally.

“Having those two projects reaching commercial operation successfully today extends El Sewedy Electric portfolio, which include solar photovoltaic, to become one of the pioneering companies in the region with such diversified portfolio of investment and management in renewable energies,” President and CEO of El Sewedy Electric, Ahmed El Sewedy, said.