Vestas, Egypt In Talks For $2.2 Billion Wind Farm Deal

Posted by Betsy Lillian on April 08, 2016 No Comments
Categories : New & Noteworthy

Danish wind turbine manufacturer Vestas says it is in talks with Egypt’s Ministry of Electricity and Renewable Energy regarding a $2.2 billion wind farm deal, reports Daily News Egypt. The deal could be signed as soon as next month and could generate as much as 2,200 MW.

When complete, the massive wind farm would cover an area of approximately 1,600 square-kilometers. A 12-month study of wind speeds, bird migration patterns and topography must be conducted first, and the initial phase of the project would total approximately 250 MW.

According to an unnamed official, Vestas is seeking financing from six banks, including HSBC, EKF Denmark, Euler Hermes, IFU Denmark, DANIDA and CDP Banco.

In addition to the proposed new wind farm, Egypt’s Ministry of Electricity and Renewable Energy is also urging Vestas to present proposals for further development of the 80 MW Zanfarana power station.

Leave a Comment