According to a report in Yalla Finance, a hyper local business news Web site cover the Middle East North Africa region, construction on the two projects is slated to begin in May. Once completed, total output is expected to be about 250 MW per facility.
Speaking to the news agency, Dr. Hassan Younis, Egypt’s Minister of Electricity and Energy said the four wind farms are being constructed in phases and is open to investors who will be permitted to design, finance, build, own and operate their respective station for a period of 20 to 25 years.
Power generated by the wind farms will be sold to the Egyptian Electric Company, which will then sell it to consumers at prices approved by the Egyptian Council of Ministers.
Presently, Egypt suffers from frequent outages and power shortages due to an old and insufficient power regime.
As a result, Younis said, Egypt is moving ahead with plans to shift to alternative sources of power and plans to produce 12 percent of its electricity from wind power projects within the next five years.
By 2022, the country wanted to up that total to 7,200 MW of wind power per year, and will open bids for the development of additional wind farms in cooperation with European Union, Spanish and German banks, Younis said.
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