- Press Releases
November 30 (SeeNews) - Egypt’s Electricity and Renewable Energy Ministry said on Sunday it has inaugurated a 200-MW wind farm in Gabal el Zeit, Red Sea governorate.
The project was realised over a period of 30 months at a total cost of EUR 270 million (USD 275.8m). It was financed by the German government, through KfW Development Bank, as well as the European Commission and the European Investment Bank (EIB).
The wind park consists of 100 pieces of 2-MW turbines that have the combined capacity to generate up to 800 GWh of electricity per year. This would cover the annual power needs of about 500,000 people.
According to a statement by the ministry, the facility represents the largest operational wind farm in the Middle East. Earlier this month, Lekela Power, a 60/40 joint venture between private equity firm Actis and Ireland’s Mainstream Renewable Power, announced plans to build, own and operate a 250-MW wind farm in Egypt’s Gulf of Suez area.
Egypt wants to source 20% of its energy from renewable sources by 2030.
(EUR 1.0 = USD 1.059)