Egypt will launch within days a tender compeition to choose firms to build a 1,000 mega-watt wind farm in the Gulf of Suez, its electricity minister said.
The power plant will be constructed on a build-own-operate (BOO) basis, Electricity and Energy Minister Hassan Younes said in a statement, without providing further details.
Egypt's El Sewedy Cables is likely to bid for the project, CI Capital said in a note on Sunday. It was shortlisted among other companies in Egypt's last wind farm tendering.
"We believe that management will surely apply in this wind bid," the investment bank said.
Sewedy, the largest Arab cable maker by market value, said in March it was looking to supply wind energy projects in Egypt, the Middle East and African markets to tap growing demand and suitable climates