International Finance

Foreign firms to launch 2,150MW wind energy projects in Egypt

The wind power stations will be established  through a range of project financing such as BOO and EBC.

International companies have offered the ministry of electricity and renewable energy of Egypt to develop wind energy projects in the country with a capacity of 2,150 MW, according to media reports. Daily News Egypt reported that the offers arrived from companies in China, Germany, and the Kingdom of Saudi Arabia.

These companies propose to set-up wind energy stations in Egypt with 200 MW to 250 MW capacity per station. In order to examine these offers, a committee will be formed comprising members from the Egyptian Electricity Transmission Company, the New and Renewable Energy Authority, and the Egyptian Electricity Holding Company.

The committee will be responsible to study the proposed offers to set-up wind farms in Egypt factoring in construction of the stations, networks, and the future requirements to add renewable power plants capacity to the electrical grid. The wind power stations will be established through a range of project financing such as BOO and EBC.

Media reports stated that the ministry plans to introduce projects under the auctions scheme in multiple stages as per the 2030 energy plan.The ministry has also received presentations from General Electric and Vestas to implement projects with a capacity of 4,000MW, the media reports said.

There are ongoing negotiations between Siemens and the ministry to build power stations with an overall capacity of  2,000 MW. The first phase of the project will have a capacity of 180 MW.  Egypt plans to generate 20 percent of energy from renewable sources by 2022. Currently, its total energy production stands at 55,000MW. This includes 2,400MW of hydroelectric power, 1,000MW of wind power and 170 MW of solar energy. 

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