Orascom consortium to build new wind farm in Egypt
500MW wind farm is now the country’s largest renewable energy project
A contract for the development of a 500MW wind farm in Ras Ghareb, Egypt has been awarded to a consortium that includes Orascom Construction, Engie, and Toyota Tsusho Corporation/Eurus Energy Holdings Corporation. According to a statement from Orascom, the project will be delivered on a build-own-operate (BOO) model.
The agreement was signed between the consortium and the Egyptian Electricity Transmission Company (EETC) as the off-taker, and the New & Renewable Energy Authority (NREA) as the land owner.
Construction on the project is expected to begin following the financial close and completion of the necessary documentation, expected in the third and fourth quarter of 2019.
The new wind farm will be the second such project that the consortium is developing in Egypt. The group is currently building a 250MW BOO wind farm, which is expected to be commissioned in the second half of 2019. Prior to the signing of the agreement for the 500MW project, the 250MW project was the biggest renewable energy project in the country.
