Under the terms of the MoU, signed with the Egyptian Electricity Transmission Company, the joint venture will build, own and operate the wind farm in Egypt’s Gulf of Suez area with a potential investment of $350m.
Lekela Power chief executive officer Chris Antonopoulos said: "We are delighted to have agreed heads of terms for our third project in Egypt and we look forward to continuing to provide clean, safe, and cost competitive energy to the Egyptian people through our wind and solar projects."
Earlier this year, Lekela Power signed MoUs with the New and Renewable Energy Authority (NREA) for a wind and a solar power project, each with a power generation capacity of 50MW.
As per the MoUs, the company will develop a 50MW solar facility in Aswan, in addition to a 50MW wind project near the Gulf of Suez, under the feed in tariff scheme.
The $1.9bn pan-African renewable power generation company, Lekela Power has more than 1,100MW of wind and solar energy projects under its portfolio.
Construction for the renewable projects, which are spread across South Africa, Egypt and Ghana, are either underway or about to start.
