The Egyptian Electricity Transmission Company (EETC) plans to sign next month the final power purchasing agreement with Lekela Power next month for its 250 MW wind farm in the Gulf of Suez, after Lekela secured funding for the project, according to unnamed sources. The European Bank for Reconstruction and Development will provide USD 82 mn, the International Finance Corporation will provide USD 81 mn, and an overseas private investment corporation will provide USD 82 mn. Lekela expects to reach financial close 3-5 months after the final funding agreements are secured.

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