ACWA POWER Company (SASE:2082) is currently in talks with the Sovereign Fund of Egypt (SFE) to build a wind farm in the Gulf of Suez, sources told Al Borsa News. The wind farm is expected to have a production capacity of around 250 megawatts (MWs), the sources added. The final agreements regarding this project are set to be signed within weeks, they noted.

The SFE will own the minority share in the project, they said, pointing out that the fund aims at attracting investments in the Egyptian renewable power sector. The sources did not mention the financing sources of the project.