Egypt’s New and Renewable Energy Authority (NREA) has signed a major contract with an Italian-French-Chilean consortium led by Danish turbine maker Vestas Wind Systems to build a 250 megawatt wind power plant in the Gulf of Suez.
 
Involving an investment of around €228 million ($270.2 million), the project will be financed through an umbrella agreement between the Egyptian government and several European entities, including the EU, the European Investment Bank (EIB) and German and French development banks, according to a statement by NREA.
 
The project site is located on the west coast of the Gulf of Suez in the Red Sea Governorate.
 
The NREA had awarded Vestas the tender earlier this year after both Siemens Gamesa and Germany’s Senvion retracted their bids late in 2019.
 
The wind power plant is scheduled to be completed and brought to operation within 35 months, said the statement.
 
Once in operation, the new facility will generate an estimated 840 gigawatts per hour, which would save about 175,000 tonnes of oil equivalent, it added.-TradeArabia News Service

Copyright 2020 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.