Red Sea wind plan reaches financial close
- Date: 05-Apr-2023
- Source: Energy Voice
- Sector:Financial Markets
- Country:Egypt
Red Sea wind plan reaches financial close
The Red Sea Wind Energy project in Egypt has reached financial close, project partners have said.
The $680 million project involves a 500 MW onshore wind farm in the Gulf of Suez area.
Engie, Orascom Construction, Toyota Tsusho and Eurus Energy are backing the project. Eurus is a subsidiary of Toyota Tsusho. Partners have said the plan would be the largest private wind farm in Africa. It will sell power to the Egyptian Electricity Transmission Co. (EETC) over a period of 25 years.
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