Egypt’s renewable energy sector holds investment potential worth US$13bn
African Review - Egypt’s renewable energy sector has a potential opportunity of around US$13bn for private sector financing over the next five years, according to industry reports.
As the North African country’s installed power capacity is set to nearly double from 31 GW in 2013 to 60 GW in 2020, renewables will play a key role and present an opportunity of US$13bn in investment and development, according to Frost & Sullivan.
A report by Regional Center for Renewable Energy and Energy Efficiency revealed that Egypt plans to reach 20 per cent of its total power for a total of 11.32 GW across wind, photovoltaic, concentrated solar power and hydroelectric projects by 2020.
Bakr Abdel-Wahab, managing director of Infrastructure Private Equity at EFG Hermes, said, “There are more than 4,000MW in renewable energy projects currently under development in Egypt, split between wind and solar, procured under a newly established Feed-in-Tariff regime and competitive tenders. There will be strong medium to short-term growth, but to date it has been a slow process due to some volatility and clarification regarding the government regulatory frameworks.”
To tap into the country’s opportunities, The World Future Energy Summit (WFES) 2016, hosted by Masdar and part of Abu Dhabi Sustainability Week, has added to its already extensive programming to allow for a country-specific focus: Egypt Energy Forum.
The event will be a platform to learn about the latest developments in the power, water, gas, solar, wind, and waste management sectors of the Arab world’s largest economy, while enabling attendees to hear how the country’s leaders articulate the ten-year vision for the nation.
Among the key issues to be discussed at the event are practical measures envisaged to accelerate renewable energy adoption across the country, including a proposed feed-in-tariff programme, and the rollout of solar rooftops.
There will also be discussion around the status of key public-private-partnership (PPP) programmes and how they will be accelerated in 2016 such as the New Cairo Wastewater Treatment Plan, the Helwan Wastewater Treatment Plan, Recycling Solid Waste project, and Sharm El Sheikh sea desalination plant.
WFES 2016 will take place at the Abu Dhabi National Exhibition Centre on 18-21 January 2016, and is co-located with International Water Summit, and EcoWASTE. Co-located WFES events include the Solar Expo and Sustainable Transport Zone.