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Egypt plans to hold an auction for the right to use land in the Gulf of Suez to build wind-power plants with the capacity to produce 600 megawatts, the Electricity and Energy Ministry said in an e-mailed statement.
The north African country will offer investors six plots of land, with an area of 15 square kilometers (3,707 acres) each, the Cairo-based ministry said today, citing Electricity Minister Mahmoud Balbaa.
Under auction rules, investors will be entitled to at least 2 percent of the power generated, according to the statement.
Bloomberg
