US $ 400 million to invest in a new wind farm

US $ 400 million to invest in a new wind farm

The Egyptian government, represented by the state-owned Egyptian Electricity Transmission Company, on Tuesday (March 6), signed an agreement with a consortium of international companies to establish a “wind farm” in “Jabal Al-Zayt” area of ​​the Gulf of Suez at a cost of $ 400 million.

According to a statement issued by the Egyptian Council of Ministers, the consortium includes the Japanese “Toyota Tsusho”, the French “Engie“, and the Egyptian “Orascom“, the contract is “BOO” type.

The Minister of Electricity, “Mohammed Shaker,” after the signing, said that the establishment of the plant comes within the framework of the electricity sector plan to increase reliance on new and renewable energies, in implementation of the energy strategy, which aims to increase electricity production from new and renewable sources to 20%. The capacity of the farm is planned to reach 250 MW, which represents one-third of the current wind power production in Egypt, according to the statement of the Council of Ministers in this regard.

The power plant is scheduled to begin demonstration production in mid-2019 and will be in service by the end of next year.

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Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.