PowerChina to Construct 1,100-Megawatt Wind Power Facility in Egypt; Shares Slide 3%

MT Newswires Live01-08

Power Construction Corp. of China (SHA:601669) or PowerChina will build a 1,100-megawatt wind farm in Egypt, according to a Sunday press release by the Chinese state power company.

PowerChina will work with Egypt's Suez Wind Energy to build the Suez Gulf Wind Power Project, the largest wind farm in Egypt and the second-largest in Africa.

The Chinese power company will be responsible for the design, procurement, construction, commissioning, handover, and warranty services for the project.

The wind farm is seen to produce 4.3 billion kilowatt-hours of power for one million households, reducing carbon dioxide emissions by up to 2.2 million metric tons yearly, the report said.

Shares fell 3% during Wednesday's afternoon trading.

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