Egypt has officially awarded electricity generation licences to four wind farms with a combined capacity of 1,420 MW, the Daily News Egypt reports.
The Egyptian electric utility and consumer protection regulatory agency (Egypt ERA) granted a 20-year power generation licence to the Gulf of Suez project, to be located in Ras Ghareb municipality, in Cairo's Red Sea Governorate. The 250 MW wind farm already has a 20-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company and reached financial close in December 2017.
The wind farm's 125 Siemens Gamesa turbines, model G97-2.1 MW, are due to be installed by July 2019 and commissioning is expected by the end of that year.
The companies behind project are Egyptian firm Orascom Construction Ltd (EGX:ORAS), with a 20% stake, and French utility Engie (EPA:ENGI) and Japan’s Toyota Tsusho Corp (TYO:8015) each with a 40% interest.
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