The French ambassador to Egypt, Andre Parent, attended the signing of an international agreement for the installation of a 250MW windmill by the middle of next year in Suez, Egypt. The total value of the project stands at 345million euros; it will be established in the Gulf of Suez area and is scheduled to be operational in 2020.
The project will be funded by the Agence Francaise de Developpement (AFD), the European Union, KfW Development Bank, and the European Investment Bank (EIB).
The wind farm will increase Egypt’s energy output by about 700 GW/hour each year, thus contributing to lowering carbon dioxide emissions resulting from electricity generation, equivalent to 30,000 tons per year.
The funding institutions support the Egyptian government’s goal to generate 20 per cent of electricity from renewable sources by 2022.
28 November 2016