Cairo — A consortium comprising Orascom Construction, Engie, and Aeolus—the renewable energy platform supported by Toyota Tsusho Corporation—has signed a long-term power purchase agreement (PPA) to develop a 900 MW wind farm near Ras Shokeir, marking a significant addition to Egypt’s renewable energy pipeline.
Under the agreed ownership structure, Aeolus will hold a 40% stake, followed by Engie with 35% and Orascom Construction with 25%. Upon completion, the project is expected to increase the consortium’s total wind capacity in Egypt to approximately 1.8 GW, building on its current portfolio of 912 MW across two operational facilities.
The development will follow a 25-year build-own-operate (BOO) model, with the Egyptian Electricity Transmission Company acting as the sole offtaker. Orascom Construction is set to retain a dual role, undertaking engineering, procurement, and construction (EPC) responsibilities for key civil and electrical works, alongside contributing selected locally sourced components.
The project is advancing toward financial close in early Q3 2026, with construction scheduled to commence by year-end and commercial operations targeted for mid-2028. The initiative underscores Egypt’s continued efforts to expand renewable capacity and diversify its energy mix.
