Suez Cement’s Italgen Secures €150mn for Phase I of Hurghada Wind Farm

Suez Cement asserted that its parent company Italgen has begun its studies of incorporating wind technology in the Group’s operations in in Gabal El Zeit near Hurghada since 2008.

In a reply to the Egyptian stock Exchange (EGX)’s inquiries, Suez Cement (SUCE.CA) explained that Italgen has committed €150 million in the first phase of first phase of the first privately-owned wind farm in Gabal El Zeit near Hurghada, which, when completed, will produce enough energy to cover 40% of Suez Cement’s power needs.

The electricity will be transmitted to plants run by Suez Cement as part of the Group’s plan to incorporate a higher percentage of renewable power in all of its facilities.

Phase I is slated to produce 120 MW of electricity with the hope of eventually producing 320/350 MW of power in the second phase.

In 2013, Italgen has been authorized – following the contracts signed with the Egyptian Electricity Transmission Company- to be the first private investor to enter the Egyptian national grid, developing a wind energy park in the area of Gulf El Zeit.