The money will be ploughed into a project in Gebel el Zeit along the Gulf of Suez, according to Egypt’s state-run news agency. The news follows on the heels of the announcement that Abu Dhabi’s Masdar is also polishing its plans to build a 200MW wind farm in Egypt.
Egypt has long been a significant oil and gas producer, but with Egyptian officials acknowledging that the country may only have 30 years worth of reserves left, it is increasingly turning its sights to renewables.
