Egypt To Auction Six Plots Of Land To Build Wind-Power Plants

Egypt plans to hold an auction for the right to use land in the Gulf of Suez to build wind-power plants with the capacity to produce 600 megawatts, the Electricity and Energy Ministry said in an e-mailed statement.

The north African country will offer investors six plots of land, with an area of 15 square kilometers (3,707 acres) each, the Cairo-based ministry said today, citing Electricity Minister Mahmoud Balbaa.

Under auction rules, investors will be entitled to at least 2 percent of the power generated, according to the statement.

Bloomberg