Egypt’s New and Renewable Energy Authority (NREA) launched a tender to establish a wind farm in the Gulf of Suez with a capacity of 250MW. The Authority submitted the terms of reference to international companies and applications will be received and assessed according to experience, Al Borsa informed.

Furthermore, NREA signed an agreement to receive a $122.50m loan from the European Investment Bank (EIB) to finance the Gulf of Suez’s wind plant.

NREA’s Chairman, Mohamed Omran, said that the wind plant project is part of Egypt’s national strategy, which aims to generate 20% of Egypt’s power requirements from renewable sources by 2020.

Omran added that the strategy also aims to contribute in securing electricity supply in terms of increasing the installed capacity, as well as controlling the effects of climate change.

The chairman further noted that NREA is currently assessing the applications of the 35 companies that applied for the tender of the 20MW solar power plant in Kom Ombo, Aswan, in cooperation with the French Development Agency (AFD).