Mr Hassan Yunis Egyptian minister of electricity and energy said that Egypt and the United Arab Emirates would soon hammer out a framework deal for 200 MW wind farm at the Gulf of Suez region in Egypt.
Mr Yunis said that a feasibility study is to be conducted for determining the actual value of the project once the agreement is inked. It would be the first renewable energy project in Egypt.
He added that Egypt's New and Renewable Energy Authority and the UAE's state owned Abu Dhabi Future Energy Company will be involved in the project.
Mr Yunis said that Egypt has already allowed the private sector to launch the first private wind farm project in Egypt with a capacity of 250 MW under the building, operating and transferring system.
He said that the electricity sector in the country has taken all guarantees to ensure successful investment in wind farms. He expected Egypt's wind capacity to reach 7,200 MW by 2020.