Vestas one step closer to its Egyptian breakthrough

The first step in the wind turbine manufacturer's delayed Egyptian GW agreement will be taken before the end of the year with a 250 MW order, report ælocal media.

Photo: Frank Boutrup Schmidt/Vestas

Egypt's New and Renewable Energy Authority (NREA) has entered a deal with Vestas for a 250 MW wind farm.

The Turnkey project, will be installed and financed by Vestas before it is transferred to the state electricity authority. Several Danish financial partners such as Danida, IFU and EKF as well as HSBC, CDP Banco Standard and Euler Hermes which as lenders and guarantors of the EUR 230 million project investment, writes Alborsa News, speaking to Egyptian government sources.

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