Ras Ghareb project started commercial operation in October 2019, 6 weeks ahead of schedule. It is the first wind farm tendered on a Build-Own-Operate (BOO) scheme in the country and is part of the Egyptian government’s drive to increase the share of renewables in the energy mix with a target wind generation capacity of 7 GW by 2022.
The project company, Ras Ghareb Wind Energy SAE is owned by ENGIE (40%) and its consortium partners Toyota Tsusho Corporation/Eurus Energy Holdings Corporation (40%) and Orascom Construction (20%). The total investment cost of the project is approximately USD 380 million.
Shankar Krishnamoorthy, ENGIE’s Executive Vice President commented: “Ras Ghareb wind farm illustrates our ambitious development strategy, aimed to accelerate the zero carbon transition of our clients. We are proud to contribute to the greening of Egypt’s energy mix and we are ready to further work with our partners towards the renewables’ objectives of the country.”
ENGIE has set a target of developing 9 GW of additional renewable capacity worldwide by 2021, and intends to invest approximately EUR 2.5 billion in the sector.