February 16 (Renewbles Now) - Egypt has officially awarded electricity generation licences to four wind farms with a combined capacity of 1,420 MW, the Daily News Egypt reports.
The Egyptian electric utility and consumer protection regulatory agency (Egypt ERA) granted a 20-year power generation licence to the Gulf of Suez project, to be located in Ras Ghareb municipality, in Cairo's Red Sea Governorate. The 250 MW wind farm already has a 20-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company and reached financial close in December 2017.
The wind farm's 125 Siemens Gamesa turbines, model G97-2.1 MW, are due to be installed by July 2019 and commissioning is expected by the end of that year.
The companies behind project are Egyptian firm Orascom Construction Ltd (EGX:ORAS), with a 20% stake, and French utility Engie (EPA:ENGI) and Japan’s Toyota Tsusho Corp (TYO:8015) each with a 40% interest.
Egypt ERA also approved the electricity generating licences of three other wind farms with a combined capacity of 1,170 MW, to be developed by Lekela, Italgen and Marubeni.
Lekela, a 60/40 joint venture between private equity firm Actis and a consortium led by Ireland-based wind and solar developer Mainstream Renewable Power, in December started negotiations for a power purchase contract for a 250-MW wind power project, again in the Gulf of Suez, near Ras Ghareb.
Italgen is developing the 120 MW third phase of its 320 MW Gulf El Zeit wind farm. The first 200 MW were inaugurated in late 2015.
Japanese Marubeni (TYO:8002) announced earlier this year that it had teamed up with Elsewedy Electric and Abu Dhabi Future Energy Company, better known as Masdar, to build wind farms exceeding 800 MW of combined capacity in Egypt.