Boston, MA -- (ReleaseWire) -- 03/18/2014 -- Egypt is the largest oil producer in Africa that is not a member of the Organization of Petroleum Exporting Countries. It is also a major transit point for oil exports from the Persian Gulf to Europe and has more than 20 years of experience in using renewable energies for power generation. Development of the renewable energy industry has become a priority over recent years for the Egyptian government. The energy crises have inclined in the recent years which are negatively impacting the industrial production rates. The country is rushing towards renewable energy in an effort to manage the growing industrial and household energy needs.
Electricity demand is increasing at a rate of about 7% annually. Consumption is increasing much faster than capacity expansions and the government is planning to invest over $100 billion in the power sector over the next decade, while also seeking finance from external sources, in attempt to become less dependent on fossil fuels, including oil and gas.
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The energy sector is managed through the Ministry of Electricity and Energy (MoEE) and the Ministry of Petroleum (MoP). Their main activities are implementing, supervising and executing plans and projects related to energy generation, transmission and distribution.
Oil and natural gas are used in approximately 89% of electricity generation, while hydropower makes up 9% and the remaining 2% is from wind and solar. In order to meet the increasing energy demand and promote renewable energy development, the Supreme Council of Energy approved a plan to generate 20% of electricity via renewable resources. The tender for the development of the first large-scale solar Photovoltaic (PV) project with a capacity of 200 Megawatts (MW) was floated in 2013.
- The report provides detailing on power market and prospect of Solar Photovoltaic (PV) technology in Egypt.
- It also covering the landscape in terms of land availability, PPA structure and FiT, solar radiation, openness for foreign investment and the government support for solar PV.
Reasons to Get This Report
- Overview of Egypt power market and driving forces for Solar Photovoltaic (PV) demand
- Egypt power installed capacity breakup by technology for 2013
- Land pricing and availability in Egypt
- Government support and expected Feed-in tariff
- Details on country policy and average hours of sun shine
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