NREA executes 2 wind power plants in Egypt’s Ras Gharib with $400M

Egyptian New and Renewable Energy Authority (NREA) is currently executing two wind power projects in Ras Gharib, Red Sea with investments estimated at around US$400 million.

Ehab Ismail, General Manager of Planning Department at NREA, told Amwal Al Ghad Tuesday that the total capacity of both projects is estimated at 340 megawatts.

He added that the authority also implements a number of governmental power projects notably the execution of two photovoltaic power plants in Aswan and Hurghada with investments worth US$100 million. Each plant is set to generate 20 megawatts, the official clarified.

The currently-executed projects are expected to play a prominent role in implementing energy sector’s strategy that aims at generating around 20 percent of electricity through new and renewable energy sources by 2022.

New and renewable projects has a fixed cost ; US$1.3 million/megawatt for wind projects and around US$1 million/megawatt for solar projects, Ismail added.

“In case of having a 1,000megawatt-project, the cost will be around US$1 billion and US$1.3 billion, for solar and wind plants, respectively.”, the manager clarified.