The New and Renewable Energy Authority (NREA) will start on 20 May to receive offers for the establishment of a new wind farm with a capacity of 250MW in the Jabal El-Zayet area. According to sources in the NREA, ten companies, including Vestas, Acciona, and Siemens, have bought the prospectus of the project, which costs €500. The project will be financed by the German Development Bank (KFW) and the European Investment Bank, as well as a number of international institutions. The KFW has announced that it is planning to finance three projects in the renewable energy, water, and sanitation sectors in 2017. Burkhard Hinz, director of KFW’s Cairo office, said the bank will finance a wind farm in the Gulf of Suez, in cooperation with the European Investment Bank and the French Development Agency.

Source: Daily News Egypt May 01, 2017 14:26 UTC