The London-based European Bank for Reconstruction & Development (EBRD) is considering lending €70mn ($80mn) to a consortium led by Netherlands-based Lekela Power, which is looking to build a 250MW wind farm 30km northwest of Ras Gharib on Egypt’s Gulf of Suez. EBRD says the project will cost $326mn in total and be developed under build-own-operate (BOO) terms.

Egypt currently has 752MW of wind capacity, but development slowed after the Ministry of Electricity switched from...