INTELLIGENT BRANDS // Green Technology
Egypt could meet 53%
of electricity demand with
renewable energy
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support of IRENA, we can pursue our plans
to grow the country’s installed capacity
base through smart policies and the latest
renewable technologies.”
Egypt has the potential to generate up to
53% of its electricity from renewable sources
by 2030, according to an IRENA report
Egypt can draw on an abundance of
renewable energy resources to achieve
higher shares of hydropower, wind, solar
and biomass. To capitalise on this, the
report suggests that national policy makers
may benefit from periodically re-evaluating
the long-term energy strategy to reflect
rapid advances in renewable energy
technology and falling renewable power
generation costs.
“Remarkable cost reductions in renewable
energy in recent years are encouraging
governments all over the world to rethink
energy strategies so as to better reflect the
new economics of renewables,” said Adnan
Z Amin, IRENA Director-General.
“Egypt’s renewable energy potential is
vast and the government has now moved
decisively to accelerate its deployment.
E
gypt has the potential to generate
up to 53% of its electricity from
renewable sources by 2030, according
to a new report by the International
Renewable Energy Agency (IRENA). current plans, Egypt aims to source 20% of
its electricity from renewables by 2022, rising
to 42% by 2035. Total installed capacity of
renewables in the country today amounts to
3.7 gigawatts (GW).
The Energy Renewable Energy Outlook report,
released at a conference in Cairo, found that
pursuing higher shares of renewable energy
could reduce the country’s energy bill by up to
US$900 million annually in 2030. “This analysis offers the Egyptian energy
sector a roadmap, building on current
ambitions and plans, to enhance our
position as an energy hub connecting
Europe, Asia and Africa,” said Dr Mohamed
Shaker, Egyptian Minister of Electricity and
Renewable Energy.
Renewables could cost-effectively provide
up to a quarter of Egypt’s total final energy
supply in 2030. Achieving the higher targets
would, however, require investment in
renewables to grow from US$2.5 billion
per year to US$6.5 billion per year. Under
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“Job creation, economic development
and the growth of local manufacturing
capabilities are at the heart of our
renewables programme, and with the
“The Benban solar complex with its impressive
scale reflects this new momentum.
“Building on these achievements, Egypt
has the opportunity to further raise its
ambition which entails substantially
increased investments.
“Attracting these investments requires
stable policy frameworks and a streamlined
regulatory environment that provides clarity
and certainty for investors.
“Investments in renewable energy not
only help to meet rising energy demand
but they can also contribute to fostering
economic growth, creating employment and
developing local manufacturing.” n
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