3 Arab, Chinese firms eye establishing $600mln wind farms in Egypt

Three Arab and Chinese companies are looking forward to establishing wind farms in Egypt with up to $600 million in investments, government sources told Al Borsa News.

Two firms will submit a detailed offer, including the farms' capacities and proposed prices per kilowatt (KW), to the officials by the end of September, as they seek to start execution of the projects within the first quarter (Q1) of 2024, the sources said.

Moreover, they expressed their interest in acquiring a stake in Zaafarana wind farms which are set to be offered for sale to a strategic investor, the sources added.