Monday, 19 April 2021 01:03 GMT

Abu Dhabi Masdar invests USD900 to Egyptian wind parks


( MENAFN ) An investment of around $900 million in Egyptian wind parks has been jointly provided by three companies, including Abu Dhabi Future Energy Co 'Masdar' along with Japanese Marubeni.

Egyptian ElSewedy Electric vice president Wael Hamdy has confirmed the company to be contributing in the project to construct over 700 megawatts.

The vice president stated 'Marubeni is leading the financing part, so we hope to achieve financial closure as soon as possible. Most probably we will leverage on Japanese finance. The lead arrangers and the syndication is something we are working on currently.'

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