Italy-based establishment Italgen has inked an agreement with the Egyptian Electricity Transmission Company to produce electricity from wind energy for the Egyptian national grid.
As per the agreed terms, Italgen will construct a wind energy park in the area of Gulf El Zeit. The Phase I of the project is accounted to be up to €130m.
The Phase I of the wind project will have an installed capacity of around 120MW and the project is expected to have 400MW of installed capacity, after the completion of Phase II.
According to the company, the electricity generated by the Phase I of the wind project will be enough to power around 40% of Suez Cement’s electricity needs, and lowering CO2 emissions.
Meanwhile, the Egyptian government is aiming to generate 20% of the country’s electricity, approximately 7,000MW from renewable sources including, solar, water and wind, by 2020.