The New and Renewable Energy Authority (NREA) is looking to establish a company to manage wind farms across the country, Al Mal News reports.
The new firm will be responsible for the maintenance and operation of Egypt’s wind farms, the newspaper reports.
The NREA plans to open a tender for a 70% stake in the new company. Several international companies, such as Siemens, Vestas, and Gamesa, are expected to submit bids, the CEO of the NREA, Mohamed El Khayat told the Al Mal News. He expects over $100 million in investments for the new firm.
The NREA projects that the new company will be launched in late 2018, according to Al Mal News. The agency has been looking to increase the number of solar farms in Egypt, Daily News Egypt reported this summer.
Last month the NREA announced a tender for maintenance work and spare parts at its Zaafarana wind farms, Amwal Al Ghad reported. At the time, El Khayat noted that the agency lacks the financial liquidity to maintain its wind farms.