The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has approved US$ 87 million in financing to Lekela Egypt Wind Power.
OPIC’s support will mobilise more than US$ 250 million in additional capital to finance the project. The financing approved today by OPIC’s Board will support the development, construction, and operation of a 250 MW wind power plant near the Gulf of Suez, Egypt. The plant will address the country’s aging power infrastructure, diversify its energy mix, and reduce electricity costs.
