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Three int’l bidders attempt to seize 250 MW wind power project

Monday 04 February 2019 02:41 PM

 Wind farm
Wind farm

By Omar Salem:
Three international firms have submitted financial and technical offers to Renewable Energy Agency to bid for a tender to build a wind power plant with a capacity of 250 MW in Suez Gulf.
Sources told Al-Mal newspaper that the technical offers have been accepted and are being analyzed. The financial offers will be examined in March.
The project investments are estimated at EUR 260mn, according to the sources.
KfW Development Bank is arranging a loan of EUR 260mn in participation with European institutions to finance the project, the sources said, adding that the financing will be provided after declaring the wining company and the start of measurements and studies work.
It should be recalled that seven global companies have submitted their proven track records to set up the project. The authority has chosen three entities only after examining financial and technical solvency of each firm.