Egypt’s Electricity Minister Hassan Younes said the country was still on track to launch a tender in May for companies interested in building the first phase of a 1,000 MW wind power project in the Gulf of Suez. The project will be completed in two phases, with each plant totaling 500 MW.
The power plants will be constructed on a build-own-operate (BOO) basis, Minister Younes told state-owned news agency MENA.
The winning investor will build, finance and operate the plant for a period of between 20 and 25 years, while the Egyptian electricity firm will purchase the generated power and sell it to consumers at prices set by the cabinet, Younes said.
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