Elsewedy-Masdar-Marubeni wind farm project still in negotiations phase

INVESTMENT WATCH- Elsewedy Electric announced that (pdf) says it still hasn’t gotten the official green light for its plans to build a 500 MW wind farm project in the Gulf of Suez and a 200 MW facility in Ras Ghareb. The project, in which Elsewedy is partnering with Masdar and Marubeni in, is estimated to carry an investment cost of USD 900 mn and was announced in January. Elsewedy says the project is still in the negotiations phase with the New and Renewable Energy Authority (NREA) and that the final price tag on it has not been set yet.