Sisi approves loans for 250MW wind farm

CAIRO – 12 October 2017: President Abdel Fatah al-Sisi issued decree no. 143/2017 to approve loans pledged by international financial institutions to a 250MW wind farm in the Gulf of Suez, the Official Gazette reported Thursday.

The New and Renewable Energy Authority (NREA) signed a number of agreements over the last year and early this year with the European Investment Bank (EIB), the European Union, French Development Agency (AFD) and the German Agency for International Cooperation (GIZ).

Coming as a part of the Egyptian Ministry of Electricity and Renewable Energy's push to engage private investors in the country’s energy sector, the project is built under the build, own, operate Model (BOO) system.

The wind farm is developed by a consortium of Egypt’s Orascom Construction, France’s GD France, and Japan’s Toyota.