Orascom, Toyota consortium awarded 20-year power production license for wind farm project

The Egyptian Electric Utility and Consumer Protection Agency (Egyptera) has reportedly awarded an Orascom Construction consortium with GD France and Toyota a 20-year power production license for the 250 MW wind farm they’re building in the Gulf of Suez. The consortium, which has reached financial close on the project, will be selling power to the Egyptian Electricity Transmission Company at a feed-in tariff of USD 0.038 per kWh under a power purchase agreement signed last October. The USD 250 mn wind farm is expected to come online next year, sources told Al Borsa