The proposed 250MW installation on the Gulf of Suez forms part of Egypt's strategy to boost renewable energy and shift some of the burden away from the public sector.
The contract will include the right to sell the output to the Egyptian Electricity Transmission Company (EETC) for a period of 20-25 years.
Out of 34 applicants, the ten selected are the utilities AES Corporation of the US, Spain's Iberdrola, France's EDF, Italy's Enel and Korea Electric Power Corporation; UK developer RES; Japan's Toyota; Malaysian independent power producer Powertek Berhad; and local firms Orascom Construction and El Sewedy Cables.
It is expected that the request for proposals will be issued by the end of the year, with final bids to be submitted by March 31, 2011. The plant is scheduled to be completed by late 2013 or early 2014.