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)