Four international companies are set to compete to establish a wind farm in the Gulf of Suez. The farm will output 250 MW. Sources at the New and Renewable Energy Authority (NREA) said that the companies include Vestas and Siemens, as well as Enercon and Ray Power. The consortium comprised of Power China and Goldenwind has been excluded, as their bid did not include European certificates. The new bids will be received from companies by the middle of August. The sources explained that 21 companies had bought the tender prospectus, including Orascom, General Electric, Lekela Power, and Nordic Power. NREA had also signed a loan with the European Investment Bank worth €115m to finance the farm. The funding institutions support the Egyptian government's goal to generate 20% of electricity from renewable sources by 2020. The sources added that the necessary procedures for the implementation of the project are being carried out. The feasibility study has been completed and a consultancy office has been contracted to provide consultancy services during the implementation stages. The project is expected to start next year. Moreover, they stressed that NREA aims to contribute to securing electricity supply in terms of increasing installed capacity and contributing to mitigation of climate change through the development of wind energy. In a similar context, they said that the Toyota alliance is close to completing the financial closure for another 250 MW wind power plant, adding that the contracts of the power purchasing agreement will be soon signed with the Egyptian Electricity Transmission Company in August.
