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Doing Business in Egypt – Create a Company
in Egypt
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The Egyptian government is investing billions of dollars into
new renewable energy projects in order to facilitate the development
wind and solar power plants across the country.
Egypt has committed to increase its share of renewables in the
country’s power mix to 20 per cent by 2022 and 37 per cent by 2035.
At present, the nation only sources around 3 per cent of its electricity generation from renewables.
Egypt is also considering financing options to conduct feasibility studies for the following projects:
Source : http://www.fathalla-cpa.com/renewable-energy-future-and-investment-opportunities-in-egypt/
At present, the nation only sources around 3 per cent of its electricity generation from renewables.
Current renewable energy capacity in Egypt
Hydro
Hydroelectricity has played a role in electricity generation in Egypt for decades. Projects such as the Aswan Dam produce 15,300GWh a year, or roughly five to ten per cent of Egypt’s annual energy needs. As 85 per cent of Egypt’s hydropower potential has already been developed, this is not regarded as a premier growth sector and the Government’s focus has been directed more towards the wind and solar energy sectors.Solar
Egypt is recognised as having vast potential for solar energy application, but the investment cost of solar power plants is currently very high in comparison with oil and gas fired power plants and it is envisaged that Egypt’s strategy for developing its renewable energy capacity will be mainly directed at the wind sector.Wind
Egypt is recognised as having some of the world’s best wind resources, especially in the Gulf of Suez area, with significant additional potential along the east and west banks of the Nile. According to the Egypt Wind Energy Association, 700 square kilometers have been set aside for new wind projects in the Gebel el-Zayt area which has wind speeds of 11 meters a second.Opportunities
In 2012, GOE approved the Egyptian Solar Plan, which includes adding 3.5 GW (2.8 GW CSP and 700 MW PV) of solar energy by 2027. The Ministry of Electricity and Renewable Energy signed seven memoranda of understanding worth USD 500 million for solar and wind projects in Egypt. GOE announced an interim target for the first regulatory period (2015-2017) to contract 4,300 MW of both solar and wind energy, and a feed-in tariff (FIT) which will allow Egypt to procure 4.3 GW of solar and wind power production by 2017. Its breakdown is as follows: 300 MW for small solar systems, 2,000 MW of medium- and large-size solar plants, 2,000 MW of medium- and large-size wind plants.Egypt is also considering financing options to conduct feasibility studies for the following projects:
- Solar-thermal power plant using CSP technology for both electricity generation and water desalination. Solar-thermal power plant for industrial purposes.
- Designing a technical-financial mechanism to promote the use of solar water heaters in Egypt’s residential sector. Local manufacturing of renewable energy equipment.
Source : http://www.fathalla-cpa.com/renewable-energy-future-and-investment-opportunities-in-egypt/
