Construction of a new wind power plant worth 325 million dollars in Egypt

Construction of a new wind power plant worth 325 million dollars in Egypt

Mid-February, the Egyptian Electricity Transmission Company (EETC) signed an agreement with Lekela for the purchase of energy and the establishment of a wind power plant in the Gulf of Suez – 30 km north-west of Ras Ghareb – with a capacity of 250 MW. This will contribute to raising the current percentage of electricity generated from wind energy by 14%. As Egypt aims to reach 20% of its total energy mix from renewable sources by 2022.

The project aims to produce more than 1,000 GWh / year, which is equivalent to the energy needed to operate more than 350,000 homes in Egypt. The total investment of the project is estimated at $ 325 million, and work is underway with leading international financing institutions to provide financing for the project.

Also, a contract for connecting the plant to the grid was signed with the EETC. The project will be built as a turnkey system through the EPC contractor. The contractor will be announced at a later date. The financial closure is expected by the end of this year, and the project is expected to operate in 2021.

The signing ceremony was attended by Egyptian Prime Minister Dr. Mostafa Medbouli, Dr. Mohamed Shaker, the Minister of Electricity and Renewable Energy, Dr. Sahar Nasr, Minister of Investment and International Cooperation, Sir. Geoffrey Adams, British Ambassador in Egypt, Eng. Sabah Mashali, Chairman of the Egyptian Electricity Transmission Company, and Chris Antonopoulos, CEO of Lekela.

Tags: Egypt

About Author

Aasem Abuzeid

Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.