Egypt government has agreed to sign an MoU with Vestas, the Danish wind turbine manufacturer, for wind energy projects totaling a combined generation capacity of 2,300 for a total cost USD2.3bn, according to an emailed statement to Bloomberg. The agreement is currently pending Cabinet approval, according to the Executive Chairman of Egypt’s New and Renewable Energy Authority (NREA), Mohammed Al-Sobki, speaking to Zawya Projects. As announced earlier, the first station (250 MW) will cost USD280mn and could be launched towards end of 2016 and be completed within 20 months, where the entire project is expected to be finalised by 2022, Al-Sobki added and will be funded through loans from local and foreign banks. The projects are expected to increase wind power’s contribution in the country’s renewable energy mix to 4% from the current 1%. (Bloomberg, Zawya)