Cairo – Mubasher: Orascom Construction Limited, on Monday announced that it joined France’s ENGIE and Japan’s Toyota Tsusho Corporation/Eurus Energy Holdings Corporation in signing an agreement to build a new 500-Megawatt wind farm in Ras Ghareb, Egypt.
The agreement was signed between the developer consortium, the Egyptian Electricity Transmission Company (EETC) as the off-taker, and the New & Renewable Energy Authority (NREA) as the land owner, the company said in a press release.
The project will follow a build-own-operate (BOO) model, Orascom added, expecting its paperwork and financial planning to be completed no later than Q4 2019.
The construction giant stated that this project eclipses its existing 250 MW wind farm, which is expected to be commissioned in the second half of 2019, as the largest renewable energy project of its type and size in Egypt.
