Elsewedy Electric has signed an MoU with a consortium of Japan-based Marubeni Corporation and the Government of Egypt to develop a new wind power plant in the Gulf of Suez on a build-own-operate basis. The project is located on the Red Sea coast, north of Hurghada, in the Gabal Elzeit area. The MoU will allow the consortium to carry out the necessary studies at the project site to submit a proposal. The wind power plant will be developed in two phases, each with a capacity of around 250 MW. The project is planned to achieve commercial operations in phases starting from mid-2020.