The construction of the first wind farm operating in the BOO (build, own, operate) system will start in October as a partnership between the private sector and the National Renewable Energy Authority (NERA).
NERA Chairman Mohamed al-Khayat told Al Watan newspaper that the farm’s capacity will be 250 megawatts, and that it is located in the Suez Gulf. The investor is Lekela Power, a renewable power generation company that delivers utility-scale projects across Africa.
The estimated cost of the project is $325 million, and it is expected to generate 2 billion kWH annually, saving up to 420,000 tons of fuel and reducing CO2 emissions by 1.1 million. That is in addition to creating thousands of direct and indirect jobs, while and after executing the project, which is scheduled to come into force by June 2022.
Khayat clarified that the project will contribute to the accomplishment of the 2035 Sustainable Energy Strategy having the main goal of raising the share of renewable energy to 42 percent. He added that NERA works on attracting private investments to build wind farms while increasing the share of local components in the equipment used in operation.