Engie wins $400 million wind-power contract in Egypt

French energy company Engie SA (ENGI.FR) said Tuesday that it has won a contract to build, own and operate a $400 million wind farm in Egypt as part of a consortium with Toyota Tsusho Corp. (8015.TO) and Orascom Construction Ltd. (ORAS.CI).

The wind farm will be located on the Gulf of Suez and will have a generation capacity of 250 megawatts, Engie said, adding that it expects construction to start at the end of the year and take around 24 months to complete.

The energy will be sold to the Egyptian Electricity Transmission Company under a 20-year contract, Engie said.