NREA addresses world financiers for funding Suez Gulf wind plant
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CAIRO: The New and Renewable Energy Authority (NREA) is addressing the international financiers for funding the Suez Gulf wind plant with a total capacity of 200 megawatts daily, NREA executive manager Shaaban Khalaf said, according to Al-Mal business daily.

Establishing the new wind plant will cost 280 million Euros (2.6 billion EGP), he said and that NREA, in cooperation with the project private consultant, will finish the feasibility study this week.

NREA seeks to establish plants to diversify the electricity generation sources, exploiting the wind power in Egypt, and help overcoming the electricity deficit, Khalaf added. The project is within the Ministry of Electricity’s five-year plan to increase renewable energy participation to 20 percent of the total generated electricity by 2020.

The Suez Gulf wind plant is scheduled to work by 2017, he added and that NREA will address European donors, especially since renewable energy projects are a tangible part of their concern.

Egypt has a large amount of wasted wind energy that should be exploited to lessen electricity deficit and diversify Egypt’s power sources, head of the Egyptian Electric Utility and Consumer Protection Regulatory Agency Hafez Salmawy told The Cairo Post in a phone interview in June.

“The advantages of generating electricity from wind are its low prices, its easiness in constructing the plants, and that is will provide more quantity of oil products,” he said. The electricity generated from wind plants would cost one third less than solar generated energy.

Egypt has two major wind plants in Zafranah region on the Red Sea coast, which occupies about 144 kilometers, according to NREA. The generated electricity of the two wind plants provides about 250,000 tons of fuel annually and reduces 637,000 tons emissions of carbon dioxide.

NREA provided a fund from the European investment bank, the Japanese government, and the Spanish government to for establish three major wind plants with a total capacity of 450 megawatts at the Gabal Al-Zeit region in the Red Sea governorate in the upcoming period.

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