A consortium of unnamed Emirati companies is planning to set up a USD 500 mn, 500 MW wind farm in Gulf of Suez, Al Mal reports, citing Electricity Ministry sources. The New and Renewable Energy Authority (NREA) has allocated the land for the station, which will be constructed under a build-own-operate (BOO) framework. The consortium is currently working on feasibility studies for the project, which will take two years to complete before work begins.

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