El Sewedy Electic wins bid for 6 Land Plots for Wind Farms

Egypt’s El Sewedy Electric (SWDY.CA), the Arab world’s biggest listed cable maker, announced that the New & Renewable Energy Authority (NERA) approved, on June 30, the company’s submitted offers to construct, own, and operate 6  wind energy power stations with a 100 m/w combined capacity in Red Sea governorate.

The company added, in a statement to the stock exchange, that it has been chosen as a main developer to conduct final negotiations on the usufruct right of the land. According to the contract, the company will be responsible for implementing the project on stages in light of the company’s minimum electricity production obligations and with no obligations of the size of the investment or used technology in the project.

This statement comes to confirm earlier news report regarding the company winning 6 land plots to establish 6 wind energy projects with an IPP system.