Egypt signs contract for $400 mn Gulf of Suez wind farm
The project is expected to produce 250 MW of energy.
The state-owned Egyptian Electricity Transmission Company on Tuesday signed an agreement with a Toyota-Engie-Orascom alliance to establish and develop a wind farm in the Gulf of Suez.
The prime minister Sherif Ismail, the minister of electricity Mohammed Shaker, the minister of investment and international cooperation Sahar Nasr, and the minister of finance Amr El-Garhy attended the signing of the deal.
The project is expected to produce MW 250 of Energy, which account for one-third of the country’s total output, based on the BBO (Build-Own-Operate) model with investments of $400 million.
The farm establishment comes under the electricity sector’s broader plan to increase reliance on renewable energy resources, the electricity minister said.