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

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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.