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Egyptian transmission grid operator EETC has signed a power purchase agreement with Netherlands-based Lekela Power for a 250MW wind farm to be built 30km north of Ras Gharib on the Gulf of Suez. The plant will be built under build-own-operate (BOO) terms, reintroduced by Egypt’s Ministry of Electricity after unpopular feed-in tariffs halted a wind program that had previously led to the installation of 750MW of capacity.
Reverting to BOO persuaded a consortium of France’s Engie, Japan’s Toyota Tsusho and Egypt’s Orascom to press ahead with another 250MW wind farm at Ras Gharib ( MEES, 11 May 2018 ). Lekela says its project will cost $325mn and that it is looking to achieve financial close later this year and bring the project online in 2021. (CONTINUED - 149 WORDS)