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Tuesday, 24 May 2016

Vestas to present bid to build 2,200 MW wind farms next week

Denmark’s Vestas, which bills itself as the “only global energy company dedicated exclusively to wind energy,” is closing in on an MoU to build 2,200 MW in wind generation capacity with investments of USD 2.2 bn next week, sources tell Al Borsa. The project would be built under the EPC-plus-finance system. Vestas is looking to start building within four months, after being allocated a land plot to build the first 250 MW wind farm in the West Nile area. International banks financing the project include HSBC, EKF Denmark, and Euler Hermes, the newspaper reports. The international trade press reported last month that Vestas was nearing an agreement after the news was first broken by Daily News Egypt.

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