El Sewedy Electric will complete the Gebel El Zeit Wind Energy Project by building a network of 600MW wind farms in Egypt
Wael Hamdy, vice-president of El Sewedy Electric, revealed that the total cost of Gebel El Zeit Wind Energy Project is US$1bn and the project will be constructed within three years.
A company official said that the project will develop through several phase studies and in the coming phase studies the company will start with the wind speed, environment and topography of the area.
In March 2014, Egypt?s Ministry of Electricity announced a plan to increase the contribution of renewable energy to electricity production to 20 per cent by 2020. It also included the participation of the private sector in 67 per cent of the wind farms.
Mohamed Shaker, minister of electricity in Egypt, said, ?We have received bids from multiple companies to produce electricity from solar and wind energy. Investors are positive about investing in Egypt, especially after the plan to develop the Suez Canal was announced.?
