A consortium consisting of Orascom Construction, French energy company Engie, Toyota Tsusho and Eurus Energy (Japan) has signed an agreement to commence development work 500MW wind farm in Egypt.
This will be a build-own-operate (BOO) wind farm and will be located in Ras Ghareb, Egypt. The agreement was signed by the consortium and the Egyptian Electricity Transmission Company (EETC) as the off-taker and the New & Renewable Energy Authority (NREA) as the land owner.
With the agreement being signed, other important tasks, including financial close, required to begin construction of the project are expected to begin either in the third quarter or the fourth quarter of next year.
The 500MW wind farm complements the consortium’s existing 250MW currently under construction ahead of schedule, which is expected to be commissioned in the second half of next year.
Orascom said: “Furthermore, this new 500 MW project eclipses the existing 250 MW BOO wind farm as the largest renewable energy project of its type and size in Egypt, and affirms Orascom Construction’s tangible steps to pursue investments in the infrastructure sector that create new construction opportunities with long-term shareholder value.”
In May, Orascom announced that its joint venture with FCC Aqualia, a subsidiary of FCC, had signed the notice to proceed for the engineering, procurement and construction (EPC) contract for Abu Rawash Wastewater Treatment plant in Egypt, paving the way for the start of construction.
In September 2017, the EPC contract was awarded to the JV for approximately $320m. Besides, the joint venture will operate and maintain the 1.6 million cubic meters per day facility for three years. Once complete, the facility will serve 6 million people.