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OPIC board approves financing of Egyptian windpower project

Published: 17 June 2019 17 June 2019
The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has approved US$ 87 million in financing to Lekela Egypt Wind Power.
 
OPIC’s support will mobilise more than US$ 250 million in additional capital to finance the project. The financing approved today by OPIC’s Board will support the development, construction, and operation of a 250 MW wind power plant near the Gulf of Suez, Egypt. The plant will address the country’s aging power infrastructure, diversify its energy mix, and reduce electricity costs.
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