The consortium of Orascom Construction, Toyota Tsusho, Eurus Energy Holdings, and Engie has started the construction of the 500 MW wind farm located in Ras Gharib on the Gulf of Suez in Egypt.
The project will be developed on a Build-Own-Operate (BOO) scheme. The total investment in the project amounted to US$400 million. The financing scheme for the wind farm was provided by the Japanese Bank for International Corporation (JBIC) in coordination with commercial lenders SMBC and Sociéte Générale, Japanese Export Credit Agency, and NEXI supplying insurance cover for the commercial lenders.
Once operational, the project will provide clean energy to the Egyptian Electricity Transmission Company (EETC) under a 20-year power purchase agreement (PPA).
Country updates
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November 11, 2022
MoU signed for 1.1 GW onshore wind project in Egypt
ACWA Power Company has signed a memorandum of understanding (MoU) with Oman Investment Authority (OIA) to explore bringing the sovereign wealth fund on as an investor for the 1.1GW Suez Wind Energy pr...
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November 11, 2022
EBRD to support 7 MWp solar PV project in El Minya
The European Bank for Reconstruction and Development (EBRD) has released a tranche for TAQA's 7 MW solar photovoltaic (PV) project in El Minya, Egypt with US$5.5 million financing. The funding consis...
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November 09, 2022
MoU signed for 10 GW Onshore wind project in Egypt
Masdar, along with Infinity Power and Hassan Allam Utilities, have signed a memorandum of understanding (MoU) to develop a 10 GW onshore wind project in Egypt.
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November 07, 2022
Suez Cement secures 45 GWh solar power from Intro Power
Suez Cement Group of Heidelberg Materials has signed an electricity generation deal with Intro Power and Utilities for the purpose of developing a 20 MW solar photovoltaic (PV) project at the Suez Cem...
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November 03, 2022
ACWA Power signs MoU for 10 GW Egyptian wind project
ACWA Power and the Egyptian New and Renewable Energy Authority have signed a memorandum of understanding (MoU) for the construction of a 10 GW wind power complex in the country. The agreement was sig...
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