Engie, Orascom inaugurate Egypt’s largest wind farm at Ras Ghareb
ENGIE and its consortium partners inaugurated today the 262.5 MW Ras Ghareb wind park, Egypt’s first private and largest wind farm.
Ras Ghareb project started commercial operation in October 2019, 6 weeks ahead of schedule. It is the first wind farm tendered on a Build-Own-Operate (BOO) scheme in the country and is part of the Egyptian government’s drive to increase the share of renewables in the energy mix with a target wind generation capacity of 7 GW by 2022.
The project company, Ras Ghareb Wind Energy SAE is owned by ENGIE (40%) and its consortium partners Toyota Tsusho Corporation/Eurus Energy Holdings Corporation (40%) and Orascom Construction (20%). The total investment cost of the project is approximately USD 380 million.
Shankar Krishnamoorthy, ENGIE’s Executive Vice President commented: “Ras Ghareb wind farm illustrates our ambitious development strategy, aimed to accelerate the zero carbon transition of our clients. We are proud to contribute to the greening of Egypt’s energy mix and we are ready to further work with our partners towards the renewables’ objectives of the country.”
ENGIE has set a target of developing 9 GW of additional renewable capacity worldwide by 2021, and intends to invest approximately EUR 2.5 billion in the sector.
OC, Engie, Toyota inaugurate 262.5 MW Ras Ghareb wind farm
Orascom Construction, Engie and Toyota have inaugurated their 262.5 MW Ras Ghareb wind farm after beginning commercial operations in October, Engie said in a press release. Ras Ghareb is Egypt’s first private wind farm and is the first in the country to run under a build-own-operate (BOO) framework. Total investment in the project is approximately USD 380 mn, with Engie and Toyota each taking a 40% stake and Orascom Construction holding the remainder. The consortium has secured a 20-year power purchase agreement (PPA) under which it will supply power to the Egyptian Electricity Transmission Company.