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Emerging Solar Market Egypt: 20% RE by 2022 & Egypt Integrated Energy Strategy Outlook 2035
21st October 2020 @ 2:30 pm - 4:00 pm IST
The Middle East confirms the growth and importance of solar power in the region’s energy landscape. Leading countries of the region are steadily commissioning large projects and launching additional phases of their renewable energy and solar programs (KSA,Morocco, Egypt and the UAE) and other countries of the region are coming on board. Projects in the pipeline are now tendered in Oman,Kuwait, KSA, Tunisia and countries like Pakistan and Iraq are engaging their first large utility size projects.The value of solar projects that are currently operational in the region is estimated at $ 5 billion to $ 7.5 billion and the total value of projects expected to come online by 2024 at $15 billion to $ 20 billion. The total investment in renewables in MENA between 2019-2023 at 34% of the total investment in the power sector (USD 210 billion) which amounts to an estimated USD 71.4 billion.
The market for Renewable Energy in Egypt is expected to grow at a CAGR of more than 12% in the forecast period of 2020-2025. Egypt announced its Integrated Sustainable Energy Strategy 2035, which is emphasizing on the growth of renewable energy to 20% by 2022 and 42% by 2035. With this growth, Egypt is aiming to generate 61,000 MW of renewable energy by 2035. This is expected to act as an opportunity for the renewable energy market in the country. With the massive potential of 1800 MW, the Benban Solar Park powered by 7.2 million photovoltaic solar panels is going to drive the solar energy of Egypt to a new level. With the electricity demand reaching up to 27.6 GW in 2019 and a forecast, by Frost and Sullivan, of 67 GW in 2030, Egypt is in need of substantial additional power capacity. As specified by the Egypt Electricity Regulatory Authority (ERA), this method promotes distributed solar power and encourages the C&I sector to feed the electricity into the national grid.
In this event we discuss the best strategies for partnership and the companies that are best positioned to capitalize on the massive potential market in EGYPT. In conjunction with our partners, we’re bringing you an opportunity to learn & e meet more than 100+ solar leaders across a series of live presentations, and live panel debates to discuss the future of Egypt Solar Market. The real key for success in a complicated and relationship-driven market will be the right partners and the right strategy.
There’s never been a better time for the EGYPT solar leaders to come together to share their expertise and navigate the challenges we are all facing. We just can’t do that in person right now. Join EGYPT Biggest & Dedicated Solar Industry Virtual Meet