Our proprietary portfolio of PV power plants produced 8.9 GWh of electricity. On year-to-date basis 24.1 GWh of electricity was produced compared to 21.1 GWh during the same reporting period last year, an increase of 14.1%. This represents an avoidance of 9,510 tonnes of CO2 emissions for the first four month in 2021. We are currently developing PV projects with total capacity of 531.5 MWp.
As a result of an exchange of project rights for 3 PV plants co-developed with Canadian Solar in Australia, we have increased our stake in Maryvale Solar Farm and will complete this project independently, while Canadian Solar takes over the other 2 plants.
In April we announced a second investment of AUD 3 million into our strategic partner, Melbourne-based technology company RayGen. Our stake in the company remains 9%.