Four international companies are vying to establish a 250MW wind farm in the Gulf of Suez in Egypt, a report said.

The companies include Vestas and Siemens, as well as Enercon and Ray Power, Daily News Egypt reported, citing sources at the New and Renewable Energy Authority (NREA).

The new bids will be received from companies by the middle of August, it added.

A total of 21 companies, including Orascom, General Electric, Lekela Power, and Nordic Power, had bought the tender prospectus, according to the sources.

NREA had also signed a loan with the European Investment Bank worth €115 million ($134 million) to finance the farm.

The sources added that the feasibility study has been completed and a consultancy office has been contracted to provide consultancy services during the implementation stages. The project is expected to start next year.

They said that a Toyota alliance is close to completing the financial closure for another 250MW wind power plant, adding that the contracts of the power purchasing agreement will be signed with the Egyptian Electricity Transmission Company in August.