Project News Detail

Project No :186824
Project Title :Construction Of 250 Mw Wind Farm Project In Egypt
Company Name : Government Of Egypt
Project Detail :A 250 MW wind farm will to be constructed at Ras Gharib in the Suez governorate of Egypt. The New and Renewable Energy Authority (NREA) and Lekela Power have entered an agreement for setting up the wind farm

With the agreement signed at Suez, the company has received the land on which the project will be situated for two percent of the produced energy annually

The authority will also allow the developer to sell energy at competitive prices to the Egyptian Electricity Transmission Company (EETC)

The financial closure for the project is expected to be finalised by the end of August 2019. Moreover, three European banking institutions have showed interest to fund the project by approximately USD 245 million

The International Finance Corporation (IFC) has offered a loan worth USD 82 million, while the European Bank for Reconstruction and Development (EBRD) contributed USD 81 million

The Overseas Private Investment Corporation (OPIC) has offered USD 82 million funds. The project is part of the government’s plan to implement energy projects under the build, own, operate (BOO) system

Project Location : Not Classified - Not Classified - Egypt
Project Industry :Non Conventional Energy
Project Estimation :Refer Document
Status :Announced
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