Global wind energy company Vestas announced last week that it has won the engineering, procurement and construction (EPC) contract for the 252-megawatt (MW) Gulf of Suez 1 wind project in Gulf of Suez, Egypt

The Danish company said in a press statement that the contract was awarded by the New and Renewable Energy Authority (NREA).

The project would be jointly financed by the European Investment Bank, KfW, Agence Française de Développement and the European Commission, the statement said, adding that it is planned to be fully operational in 2023.

The statement noted that Vestas would supply and install "70 V105-3.45 MW wind turbines in 3.6 MW Power Optimised Mode" with "a three-year Active Output Management 4000 (AOM 4000) service agreement," capable of maximising the project's annual energy production, while meeting the local tip-height restriction and the national grid code requirements.

The project's annual production is expected to reach 1,027 GWh of clean energy and according to NREA, save around 560,000 tonnes of CO2 emissions annually.

In 2004, Vestas had installed 123 Vestas wind turbines in Hurghada and Zafarana, according to the statement. The company currently has more than 1.5 gigawatts of installed or under construction capacity in the Middle East and North Africa region including Jordan, Saudi Arabia, the United Arab Emirates, Bahrain, Morocco, Senegal, and Cape Verde.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020