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Monday, 15 January 2018

Masdar looking to develop 800 MW of wind power projects in Egypt

INVESTMENT WATCH- UAE clean energy firm Masdar is eyeing opportunities in “the burgeoning Egyptian wind sector,” CEO Mohamed Al Ramahi tells the National in an exclusive. The company is looking at a collaboration between Egyptian companies and Japan’s Marubeni to develop about 800 MW of wind projects across the country. “Basically we will put our portfolio together and develop bigger projects in Egypt,” said Al Ramahi. He did not name specific projects, but as we noted back in October, the New and Renewable Energy Authority (NREA) was shopping Masdar the rights to develop a EUR 400 mn windfarm under a build-own-operate framework. The move is part of Masdar’s plan to invest AED 4 bn (USD 1 bn) over the next few years in energy projects globally, including in including Argentina, Colombia, India and China, added Al Ramahi.

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