Orascom Construction will build the largest windfarm in Egypt

By Dale Benton
Share
Leading global engineering and construction contractor, Orascom Construction has announced its plans to par...

Leading global engineering and construction contractor, Orascom Construction has announced its plans to partner with ENGIE (France) and Toyota Tsusho Corporation/Eurus Energy Holdings Corporation (Japan) in the development of a new 500MW build-own-operate (BOO) wind farm in Ras Ghareb, Egypt.

The agreement was recently signed between the consortium and the Egyptian Electricity Transmission Company (EETC) as the off-taker and the New & Renewable Energy Authority (NREA) as the land owner. 

Orascom frequently invests in infrastructure opportunities, owns 50% of BESIX Group, and holds a diverse construction materials and property management portfolio.

Through the venture, the construction works are expected to close by Q4 2019.  The project will complement the consortium’s existing 250 MW BOO wind farm, which is currently under construction and ahead of schedule, and expected to be commissioned in the second half of 2019.  

See also

The 500MW project is set to become the largest renewable energy project of its kind in Egypt and is set to create opportunities with long-term market value. The business has also recently completed the refurbishment of the Emaar Al Almein Hotel, which was completed in under 10 months.

Since its inception in the 1950s, Orascom has grown organically to become a key player within the Middle East construction industry, where Egypt remains its largest market for new and upcoming projects, such as the Grand Egyptian Museum.

In 2018, the business has added up to $650mn new contracts to its portfolio of projects under construction in Egypt and the US, Zawya has reported.

 

Share

Featured Articles

GRIDSERVE: Milestone Hit in UK’s Electric HGV Integration

A landmark report by Hitachi ZeroCarbon and GRIDSERVE marks significant progress in the UK's eHGV transition

Toll Group: AU$67m Heavy Electric Fleet Secures Green Future

Toll Group is setting a sustainable pace in Australian logistics with its AU$67m (US$43.8m) investment in electric heavy vehicles & charging infrastructure

Aggreko: CEOs Adjust Net Zero Strategies Amid Challenges

European CEOs modify investment timelines and strategies to align with net zero ambitions, navigating through economic and energy hurdles, Aggreko says

Schneider Electric Welcomes Olivier Blum as New CEO

Sustainability

How Extreme H is Changing Hydrogen Fuel Perceptions

Sustainability

Google Boosts Data Centre Power with Nuclear Energy

Technology & AI