Lekela Power, a joint venture between Irish developer Mainstream Renewable Power and investment firm Actis, has signed an agreement with the government’s transmission company to build a 250MW wind project.

Lekela’s 250MW project will be located in the Gulf of Suez region of northeast Egypt. Lekela will construct the project on a build, own and operate framework.

The private equity investor Actis owns 60% stake in Lekela Power, and the remaining 40% is owned by Irish green energy developer Mainstream Renewable Power.

The planned wind power development is expected to cost around $350m (€326m), according to Daily News Egypt.

The deal represents Lekela Power’s third Egyptian project. Earlier this year the firm signed deals for two more; a wind and a solar power project each having a 50MW capacity.

Lekela Power chief executive officer Chris Antonopoulos said :

“We are delighted to have agreed heads of terms for our third project in Egypt and we look forward to continuing to provide clean, safe, and cost-competitive energy to the Egyptian people through our wind and solar projects.”

The Lekela JV was launched in February 2015 in a $1.9 billion deal (€1.77bn). It is aiming to develop up to 900MW of wind and solar projects in Africa by 2018.