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Sunday, 28 October 2018

Lekela Power seeks USD 81.4 mn in EBRD funding for 250 MW wind farm

Lekela Power is looking to borrow USD 81.4 mn from the European Bank for Reconstruction and Development (EBRD) and other parties to fund the development of its 250 MW wind farm in the Gulf of Suez, according to documents released last week by the EBRD. Through a special purpose vehicle called Lekela Egypt Wind Power BOO SAE, Lekela is planning to erect 73 3.6 MW turbines for a total cost USD 325.7 mn. The EBRD’s board will decide on the loan on 17 January 2019.

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