Orascom Construction PLC announces that it has signed, in a consortium with Aeolus and ENGIE, a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for the development of a 900 MW wind farm near Ras Shokeir in the Gulf of Suez, Egypt.
The wind farm will be developed under a 25-year Build-Own-Operate (BOO) model by a consortium comprising Orascom Construction (25%), Aeolus (40%), an African renewable energy IPP platform of Toyota Tsusho Corporation, and ENGIE (35%), a major player in the energy transition.
Orascom Construction will also execute all civil and electrical works for the balance of plant, in addition to supplying certain local components.
Following this milestone, the project will progress towards financial close, which is expected by early Q3 2026.
This project marks the consortium’s third wind farm, building on two operational BOO wind farms with a total capacity of 912.5 MW, both completed ahead of schedule.