387

Lekela Power announced on 13 February that it has signed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 250MW wind farm project in the Gulf of Suez, 30km north-west of Ras Gharib. Financial close is expected later this year, and the project is expected to be operational in 2021.The $325m project is part of the government’s build, own, operate scheme. Egypt has a target of achieving 20% renewable power in its overall energy mix by 2022.