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MoU signed for wind farm in Egypt
- Egypt: Thursday, November 29 - 2007 at 07:25
The Italcementi Group of Italy, through its subsidiary Italgen, has signed a Memorandum of Understanding (MoU) with the Egyptian Ministry for Energy and Electricity, which creates the opportunity to develop a major wind farm on the Red Sea coast, reported PEI. The MoU is part of the energy policy plan issued by the Egyptian government to support foreign investment in the development of renewable energies, with an initial focus on wind and solar. Italcementi has been closely and actively working with the Ministry for Electricity and Energy to identify a feasibility plan for international investment in the wind sector, in accordance with the Egypt's Development Plan of ensuring at least 20 per cent of electrical power is be generated from renewable sources by 2020. According Italcementi the wind farm in will be completed by mid-2008 and could reach via subsequent stages a total installed power of 400 MW, making it one of the world's largest wind power farms.
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Amena Bakr, Senior ReporterThursday, November 29 - 2007 at 07:25 UAE local time (GMT+4)
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