The German Company Siemens for Renewable Energy has announced the beginning of the operation of the wind farm in West Bakr area in Ras Ghareb in the Gulf of Suez with a capacity of 250 megawatts.
Prime Minister Moustafa Madbouli attended the signing ceremony of two agreements on establishing a 500MW wind farm in the Gulf of Suez area.
The project, envisioned to be one of the largest wind farms in Egypt, will be carried out at an investment cost of €228 million, Shaker noted during the inking ceremony.
The signing ceremony was attended by Minister of Electricity and Energy Mohamed Shaker and UAE ambassador in Cairo Gomaa Mubarak.
The source added that the Cabinet agreed to contract with Siemens Germany to implement those projects under the BOO system.
Chief Executive Officer at Lekela Power, Chris Antonopoulos said that the agreement is a major milestone for delivering a 250MW wind farm to help achieve that goal.
The inking ceremony was attended by Minister of Electricity Mohamed Shaker and Investment Minister Sahar Nasr along with British Ambassador in Cairo Geoffrey Adams.
A wrap-up of the most prominent business news of the day.
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