(Ecofin Agency) - Egyptian government plans to disburse EGP5 billion (about €234 million) to construct the largest wind power plant in the Middle-East. This project initiated by the minister of energy will be implemented in the Gulf of Suez.

The European Union (€30 million), German development Bank (€72 million) and French Development Agency (€50 million) will co-finance the project.

Mohamed al-Khayat, general manager for the Renewable Energy Committee, said that the wind farm part “comes as part of the Electricity and Energy Minsitry’s plan to increase the reliance on renewable energy when producing electricity”.

The committee is, as well, conducting negotiations with other Egyptian banks to provide funds for under 500 KW of solar energy projects.

Gwladys Johnson Akinocho