ElSewedy wins Egypt wind farm work
Local firm awarded deal to build six 100MW plants amid power cuts.
ElSewedy Electric Co. has won a contract to develop six 100MW wind power stations in the country.
The stock listed cable manufacturer clinched the deal to own and operate the plants in the Al-Zayt Gulf on the Red Sea.
Under the deal, ElSewedy will be able to provide power to its customers over a 25-year period, it revealed in a statement.
It is the first private company permitted to sell electricity independently amid chronic power shortages in Egypt.
Commercial terms were not disclosed and a final contract has yet to be signed, the statement said.