{"id":595922,"date":"2019-08-14T04:00:17","date_gmt":"2019-08-14T04:00:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/14\/ebrd-ifc-opic-agree-to-finance-usd-252-mn-of-lekela-egypts-250-mw-wind-farm\/"},"modified":"2019-08-14T04:00:17","modified_gmt":"2019-08-14T04:00:17","slug":"ebrd-ifc-opic-agree-to-finance-usd-252-mn-of-lekela-egypts-250-mw-wind-farm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/14\/ebrd-ifc-opic-agree-to-finance-usd-252-mn-of-lekela-egypts-250-mw-wind-farm\/","title":{"rendered":"EBRD, IFC, OPIC agree to finance USD 252 mn of Lekela Egypt\u2019s 250 MW wind farm"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- EBRD, IFC, OPIC agree to finance USD 252 mn of Lekela\u2019s 250 MW wind farm:<\/b> The European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and the Overseas Private Investment Corporation (OPIC) have agreed to jointly provide USD 252 mn in funding to Lekela Egypt\u2019s 250 MW wind project in West Bakr in the Gulf of Suez, the EBRD said in a statement on Thursday<\/a>. \u201cThe project builds on the success of Egypt's 1.5 GW Benban solar complex, now nearing completion, which is also privately financed and for which EBRD is the largest financier,\u201d the EBRD said. The project will be built under the build-own-operate (BOO) framework.<\/p>\n

Work to progress soon on the project:<\/b> Construction will shortly begin in the project, Lekela said in a statement<\/a>. The plant will produce over 1,000 GWh per year, providing power to more than 350,000 homes and increasing Egypt\u2019s wind energy capacity by 14% once it is complete in 2021. Siemens Gamesa Renewable Energy will install 96 of their SG 2.6-114 turbines through a turnkey EPC contract and will provide long term maintenance services through a 15-year agreement, Lekela said.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- EBRD, IFC, OPIC agree to finance USD 252 mn of Lekela\u2019s 250 MW wind farm: The European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and the Overseas Private Investment Corporation (OPIC) have agreed to jointly provide USD 252 mn in funding to Lekela Egypt\u2019s 250 MW wind project in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[571,93,72,759,125,921,9356,150,151,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595922","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-ebrd","tag-energy","tag-enterpriseam","tag-international-finance-corporation","tag-investment-watch","tag-lekela-power","tag-opic","tag-renewable-energy","tag-renewables","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"48db26ea-d3c6-491b-bae7-a9a799dc3a97","is_powered_by":true,"section_story_id":"5e72405b-abf1-4f8d-9d9f-5557f6582fb4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[595908],"teaser":"","voice_url":""},"yoast_head":"\nEBRD, IFC, OPIC agree to finance USD 252 mn of Lekela Egypt\u2019s 250 MW wind farm - 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The European Bank for Reconstruction and Development\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623336,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/lekela-power-seeks-usd-81-4-mn-in-ebrd-funding-for-250-mw-wind-farm\/","url_meta":{"origin":595922,"position":3},"title":"Lekela Power seeks USD 81.4 mn in EBRD funding for 250 MW wind farm","author":"enterpriseam admin","date":"28 October 2018","format":false,"excerpt":"Lekela Power is looking to borrow USD 81.4 mn from the European Bank for Reconstruction and Development (EBRD) and other parties to fund the development of its 250 MW wind farm in the Gulf of Suez, according to documents released last week by the EBRD. Through a special purpose vehicle\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573515,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/09\/ebrd-to-provide-long-term-loan-to-egypt-for-large-wind-plant-in-gulf-of-suez\/","url_meta":{"origin":595922,"position":4},"title":"EBRD to provide long-term loan to Egypt for large wind plant in Gulf of Suez","author":"enterpriseam admin","date":"9 August 2020","format":false,"excerpt":"The EBRD has approved a USD 50 mn long-term loan to help finance a USD 560 mn, 500 MW wind power plant in the Gulf of Suez. The plant, which will be located approximately 40 km northwest of Ras Ghareb, will be one of the largest privately-built wind plants in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555870,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/lekelas-west-bakr-wind-farm-is-live\/","url_meta":{"origin":595922,"position":5},"title":"Lekela\u2019s West Bakr wind farm is live","author":"enterpriseam admin","date":"30 November 2021","format":false,"excerpt":"Actis-backed Lekela\u2019s West Bakr wind farm became fully operational yesterday: Renewable power generation company Lekela Power announced yesterday (pdf) that its 250 MW wind farm in West Bakr is live after less than two years of construction. 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