Egypt is thinking ahead, moving forward with plans to generate 12% of its electricity by 2020, in approving another 200MW wind farm in the Red Sea region.
The newest wind farm will be located south of Zafarna and about 120km north of Hurghada. Zafarna is a windy part of country with several already operational wind farms. The country just recently announced open bidding for a 250MW wind farm in the same area and has received bids from 26 international companies.
The bidding procedure for the latest wind farm, which should cost around 340 million euros, will hopefully start in December, 2009. The wind farm is not expected to start producing electricity before 2014.
European Investment Bank, the European Commission and German bank KfW are expected to finance 270 million euros of the total cost. KfW confirmed that it will contribute, but said it would not reveal how much until it receives final approval from the German government.
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