NREA, TSFE Set To Initiate Zafarana Wind Farm's Second Phase In H2 2024

(MENAFN- Daily News Egypt) The New and Renewable Energy Authority (NREA) and the Sovereign Fund of Egypt (TSFE) are poised to present the Zafarana wind farm's subsequent phase to investors for bidding in the latter half of this year.

Insiders disclosed to Daily News Egypt that a multitude of firms have showcased their eagerness to lodge proposals for the Zafarana facility's unallocated segment.

These informants elucidated that the second phase's tender is slated for assignment before this year's conclusion, aligning with the government's advanced stage of finalizing tenders for the“Siemens” and“Jabal Al-Zeit” stations, which are approaching a definitive agreement worth an estimated $350 million.

The Sovereign Fund of Egypt has resolved to competitively tender stages five through eight to alternative investors for green hydrogen initiatives.

The adjudication will hinge on the most advantageous technical and fiscal propositions tendered by consortia vying for the tender, stipulating that the aspirant must possess a green hydrogen venture to capitalize on the energy harnessed from the station for their project.

The informants supplemented that the second phase's introduction succeeds the financial scrutiny's culmination of the farm's initial segment, encompassing stages one to four, which were directly conferred upon the international conglomerate Maersk.

They continued, asserting that after the financial appraisal's finalization, Maersk is to remit the capital and refurbish the stations it now co-owns, following a 50% acquisition as part of the government's 2023 divestiture initiative.

A consensus has been forged between the Sovereign Fund of Egypt and the New and Renewable Energy Authority regarding a protocol to ascertain Maersk's payable sum, to be appraised by a fiscal analyst.

The informants signified that the stations' overhaul will necessitate a duration and that Maersk intends to allocate the procured energy towards its green hydrogen scheme.

Zafarana's wind power facility, amongst Egypt's pioneering wind farms, has been bifurcated corresponding to its octet of developmental stages, boasting a near 545-megawatt capacity.

This agrarian complex is equipped with 700 turbines and was actualized via collaborative accords with nations such as Germany, Denmark, Spain, and Japan.


Daily News Egypt

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