Egypt

Egypt

Egypt confirms 600MW wind auction

EGYPT: The government has opened the auction process for the rights to build six projects of 100MW each on the Gulf of Suez.

Egypt is developing projects near the Gulf of Suez
Egypt is developing projects near the Gulf of Suez

More than 20 companies have so far purchased the tender documents, including Mitsui, Enel Green Power and China's HTG Development Group, as well as Egypt's El Sewedy Group and Heavy Industries Services Company (HISCO), the state-run New & Renewable Energy Authority (NREA) confirmed.

After a number of delays, the deadline is currently set at 30 July.

The land concessions will be awarded to the highest bidders above a minimum of 2% of the annual output.

Successful bidders will be able use the energy for their own needs or sell it to third parties over the national grid.

Egypt has 550MW of operating capacity, built with assistance from Denmark, Spain, Germany and Japan. It is now seeking to attract private sector investment in order to achieve its target of 7.2GW online in 2020.

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