Egypt’s New and Renewable Energy Authority (NREA) will launch a tender for a 250MW wind farm mid-2017. NREA’s Chairperson, Mohamed El Sobki, stated that the Agence Francaise de Developpement (AFD), the European Union, KfW Development Bank, as well as the European Investment Bank (EIB) have agreed to fund the project, reported Daily News Egypt. The total investments are estimated at more than $367m. The wind farm will be established in the Gulf of Suez, with operations starting in , reported Al Borsa.

The wind farm will add to Egypt’s energy around 700GW per hour each year. Accordingly it will participate in lowering carbon dioxide which results from electricity generation. Furthermore, the project comes under foreign financial institutions supporting the Egypt’s energy strategy to produce 20% of electricity from renewable sources by 2022.

In relating news, the Egyptian Ministry of Electricity had launch a tender to establish a wind farm, after receiving offers from General Electric Company and Fiestas Company. The Egyptian Minister of Electricity, Mohamed Shaker, had stated that the ministry had informed the two companies that it will launch a bid round and choose the best proposal, instead of directly contracting with the specific firms.