Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

ElSewedy Electric Chosen to Build Six Egyptian Wind Farms

July 2 (Bloomberg) -- ElSewedy Electric Co., Egypt’s biggest publicly traded seller of cables, won an auction to build and operate six wind farms as the government turns to renewable energy to cope with a power shortage.

ElSewedy will own the six 100-megawatts plants in the Al-Zayt Gulf on the Red Sea and will be able to sell the power to its customers, according to a statement to the Cairo stock exchange, making it the first private company to sell electricity independently from the government.

“The government will probably give them favorable conditions as the power shortage is becoming a chronic problem for it,” said Ghada Alaa, an analyst at Beltone Financial. “It is a win-win situation for the company and the government.”

ElSewedy is yet to negotiate land-use contracts with the government and won’t be obligated to invest a minimum amount or use certain technology, it said, without giving a cost or timeframe.

The company advanced 1.1 percent in Cairo trading.

To contact the reporter on this story: Tamim Elyan in Cairo at

To contact the editors responsible for this story: Tarek El-Tablawy at Tony Barrett, Ana Monteiro

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.