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Thursday, 19 July 2018

EETC inks contracts for 500 MW Gulf of Suez wind farm with Orascom Construction, Engie, Toyota Tsusho

Gov’t inks contract with OC-led consortium for USD 650 mn, 500 MW Gulf of Suez wind farm: The Egyptian Electricity Transmission Company (EETC) signed a USD 650 mn agreement with a consortium comprised of Orascom Construction (OC), Engie, and Toyota Tsusho Corporation to build a 500 MW wind farm in Ras Gharib, OC announced in an emailed statement (pdf). “With this milestone in place, the required steps and documentation leading to the start of construction, including financial close, are expected to be complete by 3Q or 4Q2019,” OC says. Cabinet’s economic group had approved the project’s contract back in April. The consortium is also working on another USD 400 mn, 250 MW wind farm in the Gulf of Suez, which it expects to deliver by 2H2019.

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