Egyptian Electricity Transmission Company (EETC) has signed an agreement with a consortium for the development of a 500 MW wind project in Ras Ghareb, Egypt.

The consortium is formed by Orascom Construction PLC, Toyota Tsusho Corporation/Eurus Energy Holdings Corporation (Japan) and ENGIE (France). Based on the signed contract, the team will be responsible for the development, construction and operation of the wind farm for a period of 20 years.

Orascom Construction will have a 25% stake in the project and will execute the construction of the wind farm. The project is subject to financial close, after which the wind farm will be implemented in 30 months. The Ras Ghareb Wind Farm will be Egypt’s first renewable energy Independent Power Producer (IPP) project of its kind and size.