Orascom Construction PLC (ADX and EGX: ORAS) announced that it has signed, in a consortium with Aeolus and ENGIE, a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for the development of a 900 MW wind farm near Ras Shokeir in the Gulf of Suez, Egypt. The wind farm will be developed under a 25-year Build-Own-Operate (BOO) model by a consortium comprising Orascom Construction (25%), Aeolus (40%), an African renewable energy IPP platform of Toyota Tsusho Corporation, and ENGIE (35%). Orascom Construction will also execute all civil and electrical works for the balance of plant, in addition to supplying certain local components.
Following this milestone, the project will progress towards financial close, which is expected by early Third Quarter 2026. This project marks the consortium?s third wind farm, building on two operational BOO wind farms with a total capacity of 912.5 MW, both completed ahead of schedule. The project will also increase Orascom Construction?s wind power capacity to 1.8 GW and further expand the Group?s concessions portfolio, which currently includes renewable energy, water, and logistics across Egypt, the UAE, and Saudi Arabia.
