The Clap
According to Asharq Business, Egypt is considering two offers received from an Orascom Construction-led consortium and a Scatec-led consortium.
What
The two offers pertain to wind power stations with a combined capacity of 6 gigawatts.
So What
A source from Orascom Construction told Asharq Business that the company wants to activate the Memorandum of Understanding (MoU) with a capacity of 3 gigawatts, while a Scatec source said that the company is ready to implement the projects with investments of USD 5 billion.
Some context
The two consortiums have previously entered into preliminary agreements with the Egyptian Electricity Transmission Co. on the sidelines of COP27.
The Orascom Construction consortium includes French energy player Engie and Japanese car manufacturer Toyota.
Now What
According to Asharq Business, Orascom is expected to finish the first phase of the projects, with a capacity of 500 megawatts, by 2026.
