Cairo – Mubasher: Egypt’s New and Renewable Energy Authority (NREA) has agreed with Denmark's Vestas Wind Systems on executing a 250-megawatt wind farm with investment worth up to EUR 230 million.
This farm is considered as the initial phase of the 2200-megawatt wind farm project, which Vestas requested to install with investment worth $4.4 billion after preparing the feasibility study, sources at Vestas said, according to Elboursa News.
The leading wind turbine manufacturer added that the project will be financed by HSBC, EKF Denmark, Euler Hermes, Danida, IFU Denmark, and CDP Banco Standard sources added.
The sources highlighted Vestas held several meetings last week aiming at signing the deal prior to the end of 2017.
This project will be established under an engineering, procurement, and construction (EPC) with finance contract.
