ELSEWEDY ELECTRIC POWER SYSTEMS PROJECTS

What ELSEWEDY ELECTRIC POWER SYSTEMS PROJECTS does

Elsewedy Electric Power Systems Projects (PSP) is an Egyptian-based Engineering, Procurement, and Construction (EPC) contractor that designs and delivers large-scale power generation infrastructure for utilities and government entities. Founded in 2003 and operating with 1,001–5,000 employees, the company's flagship offering is turnkey construction of combined-cycle gas turbine (CCGT) power plants, with a particular emphasis on hydrogen-ready facilities that enable future fuel conversion as part of broader energy-transition roadmaps.

The company's technical positioning centers on replacing aging lignite- or coal-fired capacity with modern, high-efficiency CCGT infrastructure capable of materially reducing CO₂ emissions (a stated 70% reduction versus the lignite-fired predecessor at Mátra). Under CEO Hesham Hegazy, PSP operates as the project-execution arm within the broader Elsewedy Electric group, executing multi-year, capital-intensive EPC contracts through consortium structures that pair its EPC capability with local construction and engineering partners.

PSP's revenue model is anchored on large, negotiated, one-time EPC contracts awarded via competitive international bidding. A flagship ~€700 million project at the Mátra Power Plant in Hungary, awarded by MVM Mátra Energia Zrt. and targeted for commercial operation in 2028, defines the company's current scale — financed in part by a €58 million credit facility from Commercial International Bank (CIB) Egypt. Pricing is not publicly disclosed; contract values are revealed through regulatory filings and press releases, and the customer base is concentrated in regulated utility and sovereign energy buyers in the Middle East/Africa and, increasingly, Europe.

Name

ELSEWEDY ELECTRIC POWER SYSTEMS PROJECTS

Legal name

Elsewedy Electric Power Systems Projects (PSP)

Website

https://elsewedypsp.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Elsewedy Electric Power Systems Projects is an Egyptian-based EPC contractor that designs and builds large-scale combined-cycle gas turbine (CCGT) power plants — including hydrogen-ready facilities — for utility and government clients across the Middle East, Africa, and Europe.

Ownership category

akta.pro rank

Product category

Power Generation Infrastructure EPC Services

NAICS

Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211), Turbine and Turbine Generator Set Units Manufacturing (333611), Power and Communication Line and Related Structures Construction (237130)

SIC

Cogeneration Services & Small Power Producers (4991), Engines & Turbines (3510)

akta.pro primary industry

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)

akta.pro secondary industry

Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB)

Keywords

• EPC contracting services
• Power generation infrastructure
• Combined cycle gas turbines
• Utility scale construction
• Energy transition projects

Headquarters

HQ city

Egypt

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Technology or R&D

Revenue model

1. EPC Contracts for Power Generation Infrastructure: Elsewedy Electric Power Systems Projects generates revenue through Engineering, Procurement, and Construction (EPC) contracts for large-scale power generation facilities. The Hungary CCGT project represents a €700 million total contract value, with the company executing the project as part of a consortium alongside Status KPRIA and West Hungária Bau.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Elsewedy Electric Power Systems Projects (PSP) is an Engineering, Procurement, and Construction (EPC) contractor specializing in large-scale power generation infrastructure. The company delivers turnkey combined-cycle gas turbine (CCGT) power plants, including hydrogen-ready designs that replace aging coal or lignite-fired facilities with modern, lower-emission generation assets for utilities and government entities.

Product overview

Elsewedy Electric Power Systems Projects (PSP) operates as an engineering, procurement, and construction (EPC) contractor specializing in power generation infrastructure. The company's primary offering involves the design, construction, and execution of large-scale combined-cycle gas turbine (CCGT) power plants. As demonstrated in their Hungary Mátra Power Plant project, PSP delivers turnkey power generation solutions that replace legacy coal-fired facilities with modern hydrogen-ready combined-cycle technology, contributing to sustainable energy transition in European markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Combined Cycle Gas Turbine (CCGT) Power Generation EPC

Quantifiable outcome

• 70% reduction in CO₂ emissions compared to lignite-fired predecessor plant
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered flagship and core.

• MVM Mátra Energia Zrt.flagshipStrategic or Co-development PartnerMVM Mátra Energia Zrt. awarded the €700 million combined-cycle power plant project to Elsewedy Electric's consortium. This represents the largest combined-cycle power generation development in Hungary in decades. The project involves replacing a lignite-fired plant with a hydrogen-ready CCGT facility.
• Status KPRIAcoreStrategic or Co-development PartnerStatus KPRIA is part of the consortium with Elsewedy Electric Power Systems Projects and West Hungária Bau executing the €700 million EPC contract for Hungary's Mátra Power Plant project awarded by MVM.
• West Hungária BaucoreStrategic or Co-development PartnerWest Hungária Bau joined Elsewedy Electric Power Systems Projects and Status KPRIA in the consortium executing the €700 million Mátra Power Plant EPC contract in Hungary, providing local construction expertise.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• ACWA Power: Saudi-based developer, investor, and EPC operator of large-scale power generation and desalination. Comparable as a counterpart in emerging-market utility-scale generation projects and as a competitor for IPP/PPA tenders where CCGT and hydrogen-ready assets are increasingly specified.
• Siemens Energy: Global incumbent supplying gas turbines, hydrogen-ready CCGT technology, and EPC services for power generation. Comparable as both a potential OEM/technology partner to PSP and as a broader competitor across the CCGT value chain in which PSP delivers projects.
• GE Vernova: Global power-generation OEM and services provider covering gas turbines, hydrogen-capable CCGT equipment, and grid solutions. Comparable as a technology incumbent whose hydrogen-ready CCGT roadmap defines the competitive landscape PSP operates in.
• Mitsubishi Power: Global supplier of gas turbines (including hydrogen-ready units) and integrated power plant solutions. Comparable as an incumbent whose hydrogen-ready turbine technology underpins similar transition-era CCGT tenders PSP targets.
• Elsewedy Electric (parent group): The publicly listed Egyptian parent group operating across cables, electrical products, transformers, and power projects. Directly comparable as PSP operates as its power-systems EPC arm and likely draws on its infrastructure and balance sheet.

Regional players

• Orascom Construction: Egyptian-based international EPC contractor with significant MENA power and infrastructure exposure. Directly comparable as a regional peer of similar size and Egyptian heritage competing for utility-scale EPC mandates across the Middle East and Africa.
• Hassan Allam Holding: Egyptian engineering and construction group active in power generation, transmission, and infrastructure EPC. Comparable as a domestic Egyptian EPC peer bidding on similar utility-scale and industrial power projects in MENA.

Direct peers

• Técnicas Reunidas: Spanish EPC contractor specializing in energy infrastructure including combined-cycle and thermal power plants. Comparable as a peer EPC contractor competing for the same utility-scale gas-fired generation tenders in Europe, the Middle East, and Latin America.
• ENKA İnşaat: Turkish-based international EPC contractor with deep experience in combined-cycle power plant construction. Comparable for large-scale CCGT EPC execution and for the consortium-led, cross-border project delivery model PSP employs in Hungary.
• SEPCO III Electric Power Construction: Major international EPC contractor for utility-scale power plants, including CCGT and other thermal generation. Directly comparable in business model — turnkey EPC of large power generation infrastructure for state utilities in emerging and developed markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/power-system-projects-elsewedy

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ELSEWEDY ELECTRIC POWER SYSTEMS PROJECTS