Masdar-led alliance seeks consultant for $10B wind farm project in Egypt
Updated 6/18/2023 8:45:00 AM
Arab Finance: The consortium led by UAE’s Masdar and comprised Infinity Power and Hassan Allam Utilities is in talks with four international consulting offices competing for the advisory work of its 10-gigawatts wind farm project, General Manager of Infinity Hesham El-Gamal told Al Borsa News.
El-Gamal did not disclose the names of these consulting firms, however; he said that they include a British office, a Canadian firm, a French one, and an American firm.
He added that the consultant would complete all required feasibility studies and reach financial close on the project within around 12 months.
The wind farm will be implemented in phases, the first of which will have a capacity of 2 gigawatts, according to El-Gamal.
On June 6th, the consortium signed an agreement with the Egyptian New and Renewable Energy Authority (NREA) to secure a plot of land to build a 10-gigawatt wind farm in Egypt with over $10 billion in investments.
Once completed, the wind farm is set to be one of the largest in the world.
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