Financial guarantee issued for 250MW wind power station
The Finance Ministry has issued a financial guarantee, on behalf of the Ministry of Electricity, for a 250MW wind power station in the Gulf of Suez, which will be co-developed by a consortium consisting of Toyota, Orascom Construction, and GD France. The contract is expected to be signed in January. The terms will be 4.7 cents per KW for 25 years under the agreement, according to Lamia Youssef, Head of the feed-in tariff unit at the Egyptian Electricity Transmission Company. (Al Borsa, Enterprise) Orascom Construction Limited: EGP102.96 as of 30 November 2016, Rating: Neutral, FV: EGP93.63 per share, MCap: USD690mn, ORAS EY / ORAS.CA
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