Elsewedy Electric, Marubeni sign MoU with EETC to develop 500 MW wind power plant

Elsewedy Electric and Japan’s Marubeni Corporation signed an MoU with the Egyptian Electricity Transmission Company in Tokyo Thursday to develop a 500 MW wind power plant on the Red Sea’s Gabal El Zait, according to a press release. The project will be developed under a BOO framework over two phases with commercial operations set to begin in mid-2020. The release does not disclose the project’s value, but says the consortium allows access to Japanese finance.