{"id":78547,"date":"2023-07-19T01:22:07","date_gmt":"2023-07-19T01:22:07","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/19\/egypt-may-allocate-land-for-orascom-constructions-3-gw-wind-plant-in-coming-weeks\/"},"modified":"2023-07-19T01:22:07","modified_gmt":"2023-07-19T01:22:07","slug":"egypt-may-allocate-land-for-orascom-constructions-3-gw-wind-plant-in-coming-weeks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/19\/egypt-may-allocate-land-for-orascom-constructions-3-gw-wind-plant-in-coming-weeks\/","title":{"rendered":"Egypt may allocate land for Orascom Construction\u2019s 3 GW wind plant in coming weeks"},"content":{"rendered":"

<\/a> OC set to secure land within weeks for mega wind farm:<\/strong> Egypt\u2019s Electricity and Renewable Energy Ministry will finalize a land allocation agreement for Orascom Construction\u2019s (OC) planned 3 GW wind farm<\/a> within weeks, Al Mal<\/a> reports, citing ministry sources. The Egyptian government will likely allot some 1 mn sqm in Sohag for the c.USD 3 bn project, the news outlet notes.<\/p>\n

The project:<\/strong> The OC-led consortium \u2014 which includes France\u2019s Engie and Japan\u2019s Toyota Tsusho Corporation \u2014 will build the 3 GW wind farm under a BOO structure over six phases, pegged to be fully operational by the end of 2028. The first phase of the project will see the consortium bring online 500 MW by 1Q 2026, and the second phase 500 MW by the end of the year. Another 500 MW is expected to be installed by 1H 2027, with an additional 500 MW set to become operational by 1Q 2028. The consortium is expected to bring the final 1 GW of the project online over two phases before the end of 2028.<\/p>\n

Next steps:<\/strong> The consortium is in talks with international banks for the financing of the project, Orascom Construction Vice President and Group Treasurer Nader Ragheb told Enterprise Climate. Wind measurement studies will be conducted in the coming months as well as migratory bird surveys for at least a year before moving forward with the project. The project will break ground upon completion of the studies and achieving financial close and is expected to last for 2 years, Al Mal quotes its sources as saying.<\/p>\n

The OC-led consortium already has a wind energy portfolio in Egypt: <\/strong>The companies operate a 262.5 MW<\/a> wind farm in Ras Ghareb which became operational back in 2019. The consortium also achieved financial close for the 500 MW Gulf of Suez wind farm earlier in April<\/a>. The USD 501 mn project \u2014 expected to commence full commercial operations in 3Q 2025 \u2014 will be financed<\/a> by the European Bank for Reconstruction and Development (EBRD), the UN\u2019s Green Climate Fund, the Japan Bank for International Cooperation (JBIC), Sumitomo Mitsui Banking Corporation, the Norinchukin Bank, and Soci\u00e9t\u00e9 G\u00e9n\u00e9rale.<\/p>\n

A lot of movement in Egypt\u2019s wind energy sector:<\/strong> Just this week, the Egyptian government signed<\/a> a land allocation agreement with Saudi renewables developer Acwa Power for its planned 10 GW wind energy plant, which will also be located in West Sohag. Earlier this month, Egypt inked another land allocation agreement<\/a> with Norway\u2019s Scatec for its planned 5 GW wind farm in Sohag. The announcement followed a similar agreement<\/a> in June with a Infinity Power, Masdar, Hassan Allam Utilities consortium for their planned 10 GW wind farm .<\/p>\n","protected":false},"excerpt":{"rendered":"

OC set to secure land within weeks for mega wind farm: Egypt\u2019s Electricity and Renewable Energy Ministry will finalize a land allocation agreement for Orascom Construction\u2019s (OC) planned 3 GW wind farm within weeks, Al Mal reports, citing ministry sources. The Egyptian government will likely allot some 1 mn sqm in Sohag for the c.USD […]<\/p>\n","protected":false},"author":1,"featured_media":78548,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[48],"tags":[40,283,11,493,88,47,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wind","tag-egypt","tag-engie","tag-enterpriseclimate","tag-orascom-construction","tag-renewables","tag-wind","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"d7f8b816-5e88-4a61-9683-ef866cac084d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/Egypt-wind-westbakr-1600.jpg","photo_position":"above","related_issue":[78538],"teaser":"","voice_url":""},"yoast_head":"\nEgypt may allocate land for Orascom Construction\u2019s 3 GW wind plant in coming weeks - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/19\/egypt-may-allocate-land-for-orascom-constructions-3-gw-wind-plant-in-coming-weeks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt may allocate land for Orascom Construction\u2019s 3 GW wind plant in coming weeks\" \/>\n<meta property=\"og:description\" content=\"OC set to secure land within weeks for mega wind farm: Egypt\u2019s Electricity and Renewable Energy Ministry will finalize a land allocation agreement for Orascom Construction\u2019s (OC) planned 3 GW wind farm within weeks, Al Mal reports, citing ministry sources. 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