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Egypt

Egypt

Gamesa secures 200MW Egyptian order

EGYPT: Gamesa has been awarded a contract to supply, install and commission 100 turbines at a 200MW wind-power project at the Gulf of El-Zayt on Egypt's Red Sea coast.

The company was selected by the New and Renewable Energy Authority (NREA), a division of the energy ministry, following an international tender call in early 2010.


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Site works will start next spring, with commercial operation scheduled for mid-2014.

The facility will cost an estimated €340 million. The Egyptian government will stump up 20% of this, with the rest coming in loans. Lead arranger Germany's KfW development bank will provide €192 million, the European Investment Bank €50 million and the European Union €30 million.

So far Gamesa has supplied 405MW of the 550MW turning in Egypt. The country is targeting around 7.2GW of installed capacity by 2020, as part of its aim to satisfy 20% of its energy needs from renewable sources by that date.

While the energy minister recently reiterated this goal, the forthcoming elections introduce an element of uncertainty.

 

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