- A 500 MW wind farm in Egypt’s Gulf of Suez is being built byEngie, Orascom Construction, Toyota Tsusho Corporation, and Eurus Energy.
- The project is implemented under a public-private partnership (PPP).
Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker El-Markabi, was recently present at the wind farm’s groundbreaking ceremony. The project, which is now in the building stage, entails the installation of 500 MW worth of wind turbines at Ras Ghareb. The largest wind farm is currently being built in Egypt’s Gulf of Suez.
Build-Own-Operate (BOO) contracts, a type of public-private partnership (PPP), are used to carry out the project. These contracts involve the French independent power producer (IPP) Engie, the Japanese company Eurus Energy, the Egyptian firm Orascom Construction, and the Japanese investor Toyota Tsusho Corporation. The park is being built in the wake of the same consortium’s first successful project in the Gulf of Suez. The 262.5 MW park was inaugurated at the end of 2019.
Red Sea Wind Energy now runs the plant. The particular purpose corporation is also in charge of building and operating the upcoming 500 MW wind farm. Construction is anticipated to take 30 months, according to Orascom, which owns a 25% share in the project. A 20-year power purchase agreement will be used to sell the generated electricity to the state-owned Egyptian Electricity Transmission Company (EETC) (PPA).
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