A consortium comprised of Orascom Construction (OC), Engie, and Toyota Tsusho Corporation began trial runs on its 250 MW wind farm in Ras Ghareb,sources in the New and Renewable Energy Authority (NREA) told the local press. The sources said that testing began two weeks ago, with full commercial operation expected to begin before the end of the year. The consortium had announced it was on track to complete the 250 MW wind farm by October, two months ahead of the 24-month construction schedule. Phase one of the build-own-operate project is expected to cost USD 312 mn, while phase two is estimated to be around USD 700 mn. The consortium inked the agreements for the project in July of last year.
More from Enterprise
Israel’s Arkia Airlines moves flights to Egypt’s Taba to bypass wartime airspace restrictions
Israel’s Arkia shifts some flights to Egypt as airspace tightens…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Private capital hasn’t frozen in MENA — but the exit playbook could change if the war drags on
PE and VC-backed companies were already pivoting to local exchanges…
Telda moves into investing with zero-fee stock trading
Telda claims users can sell a position and immediately spend…