Elsewedy-Marubeni ink MoU for 500 MW of wind in Egypt



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Renewables Now

Elsewedy Electric Co (CAI:SWDY) and Marubeni Corp (TYO:8002) last week signed a memorandum of understanding (MoU) with the Egyptian Electricity Transmission Company (EETC) for an up to 500-MW wind project.

The companies are working in a consortium to build the wind power complex at Gabal Elzeit on the Red Sea coast. The MoU gives them access to the site, so that they can complete all needed studies and prepare their firm project proposal, Egypt-based cable maker Elsewedy said in a statement on Thursday.