Lekela has announced that it has signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for its 250MW wind farm project in the Gulf of Suez, near Ras Ghareb.Located 30 kilometres north-west of Ras Ghareb, the project is part of the Government’s Build, Own, Operate (BOO) scheme. Once constructed, it will increase Egypt’s wind energy capacity by 14%. The wind farm will join Lekela’s other projects in South Africa, Senegal and Ghana that form its current 1,300MW portfolio. The total investment for the project is estimated at US$ 325 million. The project will be constructed on a turnkey EPC basis and an announcement regarding the EPC contractor will be made at a later date. Financial close is expected to take place later this year, and the project is expected to be operational in 2021.
