World Bank supports Egypt's Wind Power Development Project
09 July 2010
The World Bank has approved a US$ 220 million loan to support Egypt's Wind Power Development Project, with US$ 150 million coming from the Clean Technology Fund (CTF).
The project, the first CTF supported project in the Middle East and North Africa region, will support the renewable energy strategy of Egypt.
Research has shown that some of the world's best wind power resources are in Egypt, especially in the areas of the Gulf of Suez, where at least 7200 MW could be potentially developed by 2022, with a further 3000 MW on the west and east banks of the Nile.
Under its large scale development of renewable resources strategy, Egypt plans to have 20% of its installed generation capacity in the form of renewables by 2020.
The project aims to develop infrastructure and business models for scaling-up wind power in Egypt. It comprises transmission infrastructure development and support for the construction of the first 250 MW wind project in the Gulf of Suez and Gabel El-Zait.
It will also connect the future wind parks at Gulf of Suez and Gabel El-Zait to the national network.
