The Egyptian Electricity Transmission Company (EETC) and Lekela Power have inked an MOU that will see the latter build, own and operate a 250MW wind farm in Egypt’s Gulf of Suez region. The project is expected to cost $350mn.

Lekela, a 60:40 joint venture of London-based private equity firm Actis and Dublin-based wind and solar developer Mainstream Renewable Power, says it has already signed agreements with Egypt’s New and Renewable Energy Authority (NREA) for two smaller...