Orascom Consortium to Develop 500MW Build-own-operate Wind Farm in Egypt
Orascom Development will have a 25% stake in the project and will manage the construction of the wind farm. Orascom Development will have a 25 percent stake in the project and will manage the wind farm construction, the contracting behemoth revealed in a statement to the stock exchange.
The wind farm will be erected within 30 months after the project reaches a financial close.
This new 500MW wind farm triples Orascom Construction’s wind energy capacity to over 750MW and builds on the consortium’s achievement in building Egypt’s first renewable energy Independent Power Producer (IPP) project of this size and type, the Ras Ghareb Wind Farm.
The 262.5MW wind farm was completed two months early in October 2019 and has been operational since.
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